TOKYO -- Japan's economy Friday showed further signs of deterioration, with industrial production and the housing sector continuing to slide and consumer spending falling sharply as the job market weakened in April.
Government figures also showed that consumer prices continued to climb, fanning concerns that inflation driven by higher food and energy prices poses dangers to the economic outlook.
Japan is facing "a typical cost-push inflation, and the economy is in weak condition," said Takehiro Sato, chief Japan economist at Morgan Stanley. "The Japanese economy will worsen gradually for a while."
Sounds somewhat messed up but it's nice to see that America isn't the only country with it's economy in the shit hole. Job's are being laid off, which happened to me and prices are still soaring commercially.
Although the United States has experienced some periods of high unemployment and other times when labor was in short supply, immigrants tended to come when jobs were plentiful. Often willing to work for somewhat lower wages than acculturated workers, they generally prospered, earning far more than they would have in their native lands. The nation prospered as well, so that the economy grew fast enough to absorb even more newcomers.But now we're feeling that back end of that and everyone struggling with still even more and more immigrants migrating to the U.S.