Word: yen
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...Michigan Militia ousted its leader, Norman Olson, for issuing an unauthorized press release pinning the Oklahoma bombing on "the Japanese." Their alleged motive: retaliation for the U.S. poison-gas attack on the Tokyo subway system, which was itself part of America's subversive campaign against the overly strong yen...
...against the wishes of the command. We want everyone to know we are in control. There is nothing to worry about." The commander had claimed to possess information showing that the U.S. perpetrated the gas attack in the Japanese subways as retaliation for the dollar's slide against the yen...
...yen has a bracing effect on the economy, it also could force Japan to confront its cultural commitment to lifetime employment. All this downsizing, which has come on top of a severe three-year recession that ended last October, helped push Japan's traditionally low unemployment rate to 3% last year, the highest since 1987. "If the yen continues to appreciate," says Shigeki Tejima, a senior economist at the Export-Import Bank of Japan, "Japanese companies will be forced to stress international competitiveness more than maintaining jobs at home...
Consumers, in the meantime, have gained few benefits from the strong yen. While the currency makes vacations in Hawaii and other U.S. destinations cheaper, Japan's creaky retailing system has been slow to pass along lower prices for imports to shoppers. Says Tokyo homemaker Momoko Suzuki: "As long as you live in Japan, there are not many merits to the strong yen. One exception is beer. We now buy Budweiser for 120 yen a can instead of Japanese beer for 230 yen...
...Commerce Department opened an office in Osaka to distribute mail-order catalogs from firms such as Neiman Marcus and Lands' End last year, more than 2,000 were snapped up the first weekend. But it will take thousands of scenes like that one to begin to deflate the yen...