“I would appreciate it if all investors and trading participants would respond in a calm and orderly manner.”
- Atsushi Saito, president of the Tokyo Stock Exchange, quoted in a front page Financial Times article titled ‘Japan disaster scares markets’, 16.3.2011.
“This is a stew of unfavourable circumstances that is ripping the guts out of global equity markets in a way we have not seen since 1988.”
- Carl Weinberg, chief economist of High Frequency Economics, quoted later in the same article. The article’s authors, Richard Milne and Javier Blas, suggested en passant that “the fear of nuclear catastrophe combined with the losses to life and property in Japan were exerting a suffocating grasp over markets”. Perhaps Saito-San should have included ‘journalists’ in his request.
“The behaviour of financial markets over recent days confirms British Prime Minister Lloyd George’s observation that financiers in a panic do not make a pretty sight.”
- Satyajit Das, published on Naked Capitalism.
“If you get enough cold water inside you may stop the generation of steam and then life will get easier. Until then it is a bitch.”
- Robert Kelley, nuclear engineer, quoted on Bloomberg.
In relation to Japan, is the Internet helping, or making matters worse ? Or perhaps the question should be: are modern media, by and large, pouring fuel on a fire with their salivating, non-stop, hysterical coverage of a human tragedy ? Or not ?
To read more,
Tim,
Here's a lovely case of a Spaniard living in Tokyo complaining (in English) that the main problem he's facing is that of family members imploring him to abandon Japan and return home.
http://lavandeira.net/2011/03/status-in-tokyo-after-the-march-11th-earthquake/
I'd love to see financial journalists forced to take responsibility for what they write, btw. Or at least a disclaimer to the effect that none of the above should be construed to be based on any real evidence, etcetera.
Posted by: Charles Butler | March 18, 2011 at 06:14 PM
The Japanese disaster have involves several issues for sure and that's a pity...But saying that Internet's making things worst? I'm not sure about that..It might actually depends on the journalist because everyone has their own point of view then the issue is to believe them or not, so at the end, it's up to the reader I guess?
Posted by: Beatrice | May 20, 2011 at 10:59 AM
I follow you VIA GFC and I love your blog!
Posted by: justin bieber supra | October 17, 2011 at 03:39 PM