Forget the idea that the impact from the earthquake will resemble that of Kobe in 1995 (where economic damage totaled around $100 billion).
Japanese PM Naoto Kan just addressed the nation, and called this the country's worst crisis since WWII.
Cabinet Chief Edano also spoke. Among his comments (via Time Out Tokyo):
* There wil be rolling blackouts around the country. Tokyo will be included.
* At reactor #3, there's still not an adequate water reading, but it may be a problem with the gauge.
* Admittedly the food response has been inadequate, but it's getting solved.