Crisis In Japan: An Interview With Bloomberg's Sara Eisen From Osaka, Japan

Sara Eisen is a New York-based markets reporter for Bloomberg Television and co-host of "Bloomberg on the Economy" on Bloomberg Radio. Bloomberg Television continues to provide around-the-clock coverage of the massive human and economic toll of the disaster in Japan. Sara is on the ground in Japan, reporting what's at stake for the $1.1 trillion Japanese economy, as well as the fear and distress of a population increasingly worried about the mounting death toll, power outages and possibility of a nuclear meltdown. Benzinga had the opportunity to speak with Sara today and get her perspective on the tragedy that is unfolding on the ground in Japan.

Where are you located in Japan right now?

I am in Osaka, Japan, which is about 200 plus miles south of Tokyo. I took a packed train the other day with hundreds of Tokyo residents and employees sent here by companies.

The EU Energy commissioner and the US Energy Secretary both made comments today that make the situation seem more dire than what the Japanese government is telling people. Is the Japanese government and the nuclear companies downplaying this in anyway - similar to what happened in the early days of the BP oil spill?

There's clearly a divide between the information flow from the Tokyo Electric Power Company (TEPCO)/the Japanese government and the rest of the world. People I spoke with in Tokyo complain more about the government not getting folks up north near Sendai and Fukushima evacuated and safe, than a lack of information.

What is the situation on the ground in Japan? Are most people going to work? Is there palatable panic? Can you just give us an idea of the general atmosphere where you are stationed.

In Osaka, it's business as usual. It's just a bit more crowded than normal. There is a European financial firm setting up shop in the lobby of the Swiss Hotel. The St. Regis is booked for a week and trains filled with people keep pouring in.

In Tokyo, it was an eerie balance between fear and normalcy. Restaurants were open. People were in line at Starbucks. Yet JPMorgan's office was empty, except for a few employees. It was also very dark in order to conserve power. Supermarket shelves and convenience stores were empty and so were gas stations. It was very quiet and tense, but not panicked. And certainly not hysterical. Even in the packed train station and packed train cars to Osaka, it was all very orderly.

Have you spoken to Japanese investors? What is their take? Are they buying Japanese stocks?

I spoke to currency strategists and economists. They say 'risk aversion' constantly. They're fearful of the knock-on effect on the economy and they're expecting the Bank of Japan to buy a lot of stocks and intervene in the yen.

What is the worst case scenario that could occur if there is a full blown nuclear meltdown? What are the chances, in your opinion, of this happening?

I am not a nuclear expert, but like many, I follow each and every headline on the radiation levels, the wind patterns, the cooling efforts, the number of workers at the plants, the status of the fuel rods and water levels, etc. Most of the news makes it seem like it's getting worse and more dangerous by the day. It's very emotional and draining. You see those swings in the Nikkei and Topix. I can't imagine a worst case scenario. And by the look of things here in Osaka, and even in Tokyo, it seems most residents are not bracing for an apocalypse. I imagine this would be a very different scene if it was in New York City and this was occurring in upstate New York.

Sara's latest coverage of the situation on the ground in Japan can be found here.