Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
The plans of Japan’s government for a quick financial recovery took another blow yesterday when they announced the third straight quarter of economic contraction.
The economy shrank .1% in the fourth quarter of the year. Analysts had been predicting a small rise in the economy after dipping into recession after the third quarter. The drop has been attributed to a drop in key market exports.
“The economy has contracted for three straight quarters, but the third quarter was the worst and fourth quarter data show the pace of decline is slowing,” Mr Tonouchi of Mitsubishi UFJ Morgan Stanley Securities told the BBC. “Data show that overseas economies are recovering, so we expect Japan to return to growth in the first quarter.”
The country’s currency, the yen, has fallen significantly against the U.S. dollar. Since November of last year the yen has lost 15% of its value against the dollar. Because this allows exporters to make their goods cheaper to foreign buyers it’s hoped this will spur an increase in exports during the first part of 2013.
The Japanese government has also launched a $116 billion (U.S. dollars) economic stimulus package.
