Japan scrambles to shore up economy

The government is struggling to keep the economy afloat amid catastrophic disaster along the Pacific coast [EPA] Kaoru Yosano, Japan's economics minister has said that the government and the Bank of Japan (BOJ) must strive to ease the public and investors' anxiety, after Japanese stock prices tumbled following the devastating tsunami that hit the country's Pacific coast last week. "There is no doubt that the government and the BOJ need to make efforts to ease anxiety among the public and investors," he told reporters on Tuesday. His comments come as the BOJ pumped billions of dollars into the country's financial system to quell fears that the country's banks could be overwhelmed by the impact of the massive earthquake and tsunami, while stocks slumped amid fears of a possible nuclear crisis. Two cash injections came a day after the BOJ fed a record $184bn into money markets and eased monetary policy to support the economy in the aftermath of the disaster. The injections have helped stabilise currency markets. But stock markets dived for a second day. The benchmark Nikkei 225 stock average slid more than 12 per cent after prime minister Naoto Kan warned residents near a damaged nuclear power plant in the country's northeast to stay inside or risk getting radiation sickness. Impact to spread The BOJ has also moved to try to keep financial markets calm. By flooding the banking system with cash, it hopes banks will continue lending money and meet the likely surge in demand for post-earthquake funds. But financial analysts say the central bank's moves to bolster liquidity could put pressure on Japan to raise interest rates, particularly since the country is saddled with massive debt that, at 200 per cent of gross domestic product, is the biggest among developed nations. Vincent Tsui, an economist at the Standard Chartered Bank in Hong Kong, told Al Jazeera that the economic impact of the disaster will be felt across Asia. "Because of the close linkage of trade, the possible nuclear crisis that is unfolding will have a great impact on the economies of the region," he said. On Monday, the central bank's nine-member policy board also voted unanimously to ease monetary policy. It will expand the size of an existing programme to buy assets - such as government and corporate bonds - by $486.4bn. It kept its key interest rate at virtually zero. Billions of dollars are also expected to be needed to rebuild homes, roads and other infrastructure requiring public spending that will benefit construction companies but add to the national debt. The economy will eventually get a boost from reconstruction but "this does not mean that Japan is better off," Julian Jessop, chief international economist at Capital Economics in London, told the Associated Press. It is a quirk of accounting that destruction of assets is not counted as a reduction in the economy but replacement of those assets boosts economic activity, he said. The BOJ has also moved to try to keep financial markets calm. By flooding the banking system with cash, it hopes banks will continue lending money and meet the likely surge in demand for post-earthquake funds. But financial analysts say the central bank's moves to bolster liquidity could put pressure on Japan to raise interest rates, particularly since the country is saddled with massive debt that, at 200 per cent of gross domestic product, is the biggest among developed nations. Vincent Tsui, an economist at the Standard Chartered Bank in Hong Kong, told Al Jazeera that the economic impact of the disaster will be felt across Asia. "Because of the close linkage of trade, the possible nuclear crisis that is unfolding will have a great impact on the economies of the region," he said. On Monday, the central bank's nine-member policy board also voted unanimously to ease monetary policy. It will expand the size of an existing programme to buy assets - such as government and corporate bonds - by $486.4bn. It kept its key interest rate at virtually zero. Billions of dollars are also expected to be needed to rebuild homes, roads and other infrastructure requiring public spending that will benefit construction companies but add to the national debt. The economy will eventually get a boost from reconstruction but "this does not mean that Japan is better off," Julian Jessop, chief international economist at Capital Economics in London, told the Associated Press. It is a quirk of accounting that destruction of assets is not counted as a reduction in the economy but replacement of those assets boosts economic activity, he said.

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J.P. Tokoto Has Decided

J.P. Tokoto has decided his college destination….

But he won’t announce it until Thursday night at 10 p.m. CST in an exclusive interview with the local Milwaukee Fox affiliate, WITI-TV, at Dave & Buster’s in Wauwatosa, Wisc.

“This is J.P.’s moment so my lips are sealed as tight as can be,” Trevor Trimble, Tokoto’s father, said Wednesday by phone. “I don’t want to take away from his moment.”

Trimble moved the press conference from Friday to Thursday to accommodate the TV station.

The 6-foot-6 wing from Menomonee Falls High is considering Connecticut, Kansas, Kentucky, Marquette, Maryland, North Carolina, UCLA and Wisconsin. He is ranked No. 10 among small forwards in the Class of 2012 by Rivals.com.

On Monday, an assistant from one of those schools told ZAGSBLOG, “I would bet anything it’s either Carolina or Wisconsin.”

Trimble said the family decided earlier this week based on a number of factors.

“Obviously, J.P. has a chance to go to some elite schools,” he said. “They are all elite on that list. Those coaches have jobs to do and roster spots to fill up. We’ve seen everything we can see. We felt it was in the best interest of him to go ahead and make that decision.”

He added: “We tried to all educate ourselves as best we can on what each university can offer and further educate ourselves from a team standpoint on what would be the best fit for J.P. We looked at rosters and the academic support to determine the best fit for him.”

For everyone else curious about the decision, the waiting is the hardest part.

for further details http://www.zagsblog.com/2011/03/02/j-p-tokoto-has-decided/

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Memphis In May – Not Just The Beale Street Music Festival 2011

Many people think that Memphis in May and the Beale Street Music Festival are the same things, and they are….kind of.

Memphis in May is actually a month long festival held in Memphis, Tennessee. The festival itself is split into four main events:

The Beale Street Music Festival, which is the kick-off event and spotlights both local and national music acts. This a three day music festival that is held during the first weekend of May in the city’s Tom Lee Park at the foot of Beale Street. Usually about 100,000+ people attend the first two nights of the event, and even larger crowds attend for the big-name finales on Sunday night. This year’s lineup sounds awesome!

International Week, this is a group of events dedicated to the country that is sponsored that year (it will be Belgium this year)

The World Championship Barbecue Cooking Contest, one of the most popular barbecue contests in the country, and I would go to Memphis in May for this part of the festival alone!

Sunset Symphony, a night of classical music. This event has been taking place for 35 years.

Are you planning on attending any of the events? It sounds like fun! Wish I could go!

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