FTMDaily News Update – Absolute Devastation in Japan

March 14, 2011

by Jerry Robinson

Absolute Devastation in Japan…

The unbelievable devastation in Japan dominated the 24-news cycle. And a shocking new video emerges from the moment the tsunami struck the nation…

The human toll: New estimates are placing the eventual death toll at over 10,000. On Monday, 2,000 bodies have washed up on the coastlines. Crematoriums are overwhelmed. Thousands are still missing and over 300,000 remain homeless tonight. Around 160 people have been exposed to radiation from a nuclear meltdown, including 17 U.S. Navy officers. Hundreds more, who may have been exposed, are being isolated and quarantined.

The fallout: All three damaged nuclear plants have entered meltdown. 500,000 people have been evacuated from the area and the Japanese government is distributing iodine to its citizens. Is the West Coast in harm’s way of Japan’s nuclear crisis? California is closely monitoring efforts to contain leaks from a quake-damaged Japanese nuclear plant.

The economic toll: On the first trading day after the quake, the Nikkei 225 stock average slid 6.2 percent. The yen, which is up 14% against the U.S. Dollar over the last 12 months, fell from its four month high on Monday. The Bank of Japan attempted to calm the markets by injecting 15 trillion yen ($184 billion) into the fragile economy. Toyota has announced it will halt all production of autos until at least March 16.

Take Action…

Consider making a donation to those who have been devastated in Japan today.

Click here to donate to Red Cross.

Until tomorrow,

Jerry Robinson – FTMDaily.com

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Jerry Robinson is an economist, published author, columnist, international conference speaker, and the editor of the financial website, FTMDaily.com. In addition, Robinson hosts a weekly radio program entitled Follow the Money Weekly, an hour long radio show dedicated to deciphering the week’s economic news.

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