Recklessness is the brand of recklessness

It seems for the moment agree to believe that the Japan is less affected than others by the current banking crisis. For my part, I would not bet not on it. It is true that at the present time we are not in a situation as difficult than Americans or Europeans. However, it is not question of letting go to complacency in this financial crisis with twists and turns. The speed at which Europeans thus found themselves in the heart of the turmoil should represent for us a warning about the brutal and violent manner in which this kind of thing can be spread.

This is not because the Japanese commercial banks are now able to provide funding to American investment banks need to celebrate. Far from it. It is indeed through this that the virus could we touch, if are ready not custody. One just hopes that Japanese banks know what they purchase. It is not always easy, at least, to obtain an accurate picture of the gains and losses that causes an assignment in disaster. Some apparent bargains may be be costly operations if that they in fact contained toxic substances. Despite all their efforts to pursue the field of international competition, Japanese banks are primarily herbivores. The carnivorous nature of the Investment Bank is not really natural. They may realize that they had the eyes bigger than stomach in their acquisition operations.

Can by not calling into question the fact that many Japanese have lost a lot of money in the crisis. All the major banks were hard hit by the initial losses related to loans to high risk. They also accused losses because they held interests in American financial giants in poor health or that have failed, such as Lehman Brothers or AIG, to mention only two. Investors, large and small, have seen their portfolios suffer from the fall of these institutions and others. The victims of this international storm spend little money in the weeks, months, or even the coming years.

If the Japan managed to stay relatively spared by the crisis, it is certainly because it is cut off from the rest of humanity. This is perhaps not so bad now. We are however not in a good good time if we are pleased to be isolationist and turned on ourselves.

This is never a bad idea to prepare for the worst. Today more than ever, the time has come to do so. Those who can consider the worst can certainly pass through the crisis with less damage than others. "The only thing we have to fear is fear itself." We are systematically reminded the words of Franklin d. Roosevelt. Words of wisdom. It is perfectly true that panic led to all disasters. However, they are also careless words. Because the instinct of fear can allow us to save us from the final destruction. Those who have no sense of fear run disaster without realize nothing. Recklessness is the brand of recklessness. And it is our too much carelessness that led us in our current situation.

The new Japanese cabinet members reiterate that the impact of the crisis will remain limited in the country. This is the kind of risky statements it would happen. At best, they provide nothing, at worst, they reflect a total ignorance of the situation. We note furthermore that their comments are in contradiction with their actions. Do if they really think that the consequences of the crisis will be minimal, why they want absolutely to obtain the cooperation of the opposition and encourage him to accept early elections If they feel that the situation may actually worsen, they should consider to suspend elections for the task. But if there is no reason to be concerned too much, the thing to do at the present time is likely to call the country to vote. One cannot both to hide the head in the sand and announce that dangers are visible on the horizon.

Instead to defer the elections, the political class would service the country through as quickly as possible. Should clean up the political atmosphere so that serious work can begin and that attacking the economic difficulties ahead. Because they will surely come. The Japanese economy was already very fragile before even the outbreak of the crisis. Social disparities had become problematic and the increasing share of poor workers began to weigh on growth. The credit crisis did not help things. It is time to start thinking seriously about ways to counter it.