Greenspan

Alan Greenspan(the Chairman of the Federal Reserve of the US)said "It's possible that many big banks may be nationarized for a time". This shake all of the world. The next day, most of investers sold Citibank and Bank of America's share and those prices has dropped below $2.

Most of American people believed he was the greatest economist 3 years ago but after sub-prime problem figure out people started thinking about the source of this financial crises may come from his idea.

He recognized he was wrong but I don't think he was wrong. I think he grew American economy after 9,11 and he did very well
but he should have stopped an easy-money policy earlier.

Anyway his remarks is very influential, he should speak more carefully.

Japanese finance minister

Japanese Finance Minister Shoichi Nakagawa drunk at G7.

He was too drunk to speak clearly and he slept in the meeting.

It became a big news all of the world and he quit the Financial Minister 3 days later.

http://www.youtube.com/watch?v=IWLeWqPOFpU&feature=related

GDP -12.7%

Japanese economy is very serious situation.

The GDP from October to December 2008 decreased 12.7%.

It's the second worse result after the oil shock in 1974.

And America and Europe also decreased but not as much as Japan.

It's a emergency situation.

 I think one of the biggest reason is Japanese government.

Japanese government doesn't work right now.

So Japanese economy is getting worse and worse during that.

We should think about our future and improve ourselves!

 

Carlos Ghosn the president of Nissan company announced that

Nissan loss 18thousand million dollers and company will lay 20000 people off.

I think that it's severe time for car makers.  

Because they are confronted with the world financial crisis and

a storong yen.

But he is a real manager.

I hope Nissan will get over soon!