1990 Kilauea eruption

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1990 Kilauea eruption - -n. XJta A As Kalapana remembers better days V...
-n. XJta A As Kalapana remembers better days V 4 r :1V. 4'. f ' -if, .rfe: Advertiser photo by Carl Viti The lava had advanced to the edge of the shore and Harry K. Brown Park, lower left, by yesterday afternoon. Some analysts predict crash of 'crazy' Japan land prices By Fred Hiatt Washington Post Service TOKYO - Japan's stratospheric land prices are heading for a crash, says Kenichi Ohmae, best-selling author and management consultant. And that, he adds, would be "wonderful," since it would put Japan's economy into balance with the world. "But unfortunately," Ohmae said, "since this economy is intertwined with the rest of the world, the rest of the world will go under, too." While most government officials and many experts say a crash is unlikely, Ohmae is far from alone these days. Many experts believe that U.S. trade pressure, along with Japan's high interest rates, falling stock prices and a change in psychology, could end the era of other-worldly land prices here. - Prices in Osaka already are slipping, according to the real-estate industry. The cost of golf club memberships, traded like stocks ; and symbolizing Japan's stupefying land prices, have been slipping, too. Membership at one prestigious club near Tokyo declined from $1.3 million in mid-March to only $1.1 million two weeks later. A crash would seem to answer the prayers of many Japanese, who for years have bemoaned the ruinous consequences of living on the world's most expensive soil. But now that some experts forecast a decline, they are not so sure they want their prayers answered. "If government intervention is too effective, we can't deny the possibility that it could create a world depression," said Keiichi Tanaka, a land expert at Nihon University who sits on a prime minister's advisory council on reducing land prices. "We have to slowly, slowly let t See Japan, Page A6 By Jan TenBruggencate Advertiser Kauai Bureau KALAPANA, Hawaii - A curious mix of tension and resignation blended with the clouds of steam and burning asphalt at the edge of Kalapana yesterday. The village remained isolated, cut through the middle by a lava flow that spread in many directions yesterday. The center of attention was the node of the flow nearest the sea. It filled low places and pushed along Beach Road, burning vegetation, boiling away ponds, cutting down utility poles and tall trees. Civil Defense administrator Harry Kim said he expected the , lava to build up behind the Kalapana black sand dunes overnight and push into the sea sometime today. Last night, Gov. John Waihee signed a letter asking President Bush to declare a federal disaster for portions of the Big Island's Puna District, ravaged by lava from the current Kilauea Volcano eruption, which began in January 1983. Waihee is requesting public and private disaster assistance programs be offered to residents of Royal Gardens, Pacific Paradise Ocean Front Estates, Kapaahu, Keone, Kalapana Gardens and Kalapana. Waihee estimated that damage from the Kilauea eruption so far totals $61 million, $46 million of that to private property. His request is being carried to Washington, D.C., by federal emergency management officials who inspected the damage on the Big Island last week. A response is expected this week, Waihee's office said. As he was signing the request, workers were preparing to move the Civil Defense command post from Harry K. Brown Park, whose boundary was penetrated by the lava late .. yesterday. The park was as close as people could get to the old heart of Kalapa-. na. Gusty trade winds blew the smoke, steam and acrid fumes away from the park, but the smell of the flow See Kalapana, Page A8

Clipped from
  1. Honolulu Star-Bulletin,
  2. 06 May 1990, Sun,
  3. Page 1

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