In the Wall Street Journal overnight, a response to the Q2 GDP data from Japan yesterday (look away now if you don’t like horrible news): Japan Q2 GDP (preliminary): -1.7% q/q (SA) (vs. -1.8% q/q expected) and more here

Says the Journal:

  • A sharp second-quarter slowdown in Japan raised discussion among economists about further stimulus, but the economy minister said he didn’t think extra steps were needed now.
  • The growth number, released Wednesday, was generally in line with expectations, and many economists kept up their view that the fall would be temporary.
  • Yet aspects of the data, including a rise in inventories, led some economists to talk about additional public spending to boost the economy.

More at the (gated) article: Japan GDP Slump Stirs Stimulus Talk

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Much more interestingly (if you’ve read down this far):

  • Lady Gaga arrived at Narita International Airport Tuesday in a see-through body stocking and not much else

Check out the (ungated Wall Street Journal) link if you want pics.