Happy Birthday Fr. Nebres

(Here’s an interview we made during AEA’s SingKwenta last December.)

From us at AEA, thank you for almost two decades of unwavering leadership and service to the Ateneo community. Not bad for someone with Professor Dumbledore’s aura of awesomeness. Kudos for a job well done in running this institution.

Thanks as well for accepting our invite for an interview. We learned a lot about how Ateneo and AEA was back then. Thanks for not backing down on the questions, no matter how controversial they may be.

Wishing you success in your future endeavors. :)

The Economic Cost of Japan’s Recent Earthquake

The 9.8 magnitude earthquake off the shore of Sendai in northeast Japan and the subsequent tsunami (with waves as high as 10 meters) brought indescribable anguish and casualty to the people of the Land of Rising Sun. The Japanese suffered a major blow in terms of human life (2414 confirmed deaths as of the latest count, with thousands injured or missing, and around 450000 people homeless and in evacuation sites). This disaster also inflicted damage to the world’s third largest economy. But by how much has the damage been done in Japan’s purse, and what would they do then?

Estimates of the costs of damage run up to around $ 171 billion, making the earthquake potentially the world’s costliest disaster ever. This scenario put extra strain on an economy that has been ailing for 20 years and has recently lost out to China. And we’re not yet considering the substantial humanitarian and production toll the earthquake took, and also the hysteria over nuclear meltdowns in reactors rendered derelict by the disaster. It has come to a point that the Japanese had to resort to rotational blackouts amid shortages in water, electricity, and other supplies.

The Nikkei Stock Maket took a major hit as it closed 6.18% lower on Monday, the first day the market reopened after the disaster. As a response, the Bank of Japan, the nation’s central bank, pumped 15 trillion yen (around $183 billion) into the economy to address the financial needs of the reconstruction and humanitarian effort. Foreign promises of assistance abound, but some analysts are positive that Japan can stand on its own and heal itself, therefore rendering aid as symbolic gestures. Even renowned economist Jeffrey Sachs is confident that Japan’s economy will bounce back right after restoration efforts have been done.

It certainly helped that Japan invested $1 billion on its early warning systems for earthquakes and tsunamis, therefore saving many lives in the process. And if history is any precedent, Japan has an extensive experience in bouncing back from the worst of scenarios, from being way behind before the Meiji Era to rising from the rubble of Nagasaki and Hiroshima of World War II.

Here’s to hoping for a fast recovery for the Land of the Rising Sun.

 

Programming Note: We’re Back!

Apologies for the quarter-long hiatus (and for the bad pun as well). We can think of different reasons: being eaten by Tumbeasts, acads, Singapore JTA, Facebook, finding horcruxes, dying from listening to “Friday“…

(FUN FUN FUN FUN FUN FUUUUUUUUUUUUUUUUUUUUUUU)

Anyway, so yeah, Avid AEAn missed out on telling us his exploits in gatecrashing AEA events like KamalAEAn 2 (awesome informal debate format BTW, kudos  to Hannah), SingKwenta, Ateneo YES+, Seniors’ Send Off, etc. He’ll be back with these stories.

And of course, congratulations to the new EXECOM 2011-2012!!! We’ll be posting more about them in the coming summer vacation. Get to know juicy stuff about them. Bistuhan time :D

But wait, there’s more! We’re still going to provide you with informative articles on economic concerns here and abroad. Because we’re relevant like that.

So to our three readers, just enjoy the show in the coming days. And oh, be prepared in case of zombie attacks in the Ateneo. Again…