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The Double Whammy
Japanese stocks suffered their biggest one-day plunge in more than four months following an announcement that the world’s third biggest economy had slipped back into recession. The two consecutive quarters of negative growth were triggered by an increase in the sales tax that was implemented by Prime Minister Shinzo Abe in April. The VAT tax... Read More
Class Warfare Saps the Economy
By every objective standard, Abenomics has been a complete flop. Household spending has plunged, wages have dropped for 23 months in a row, inflation is on the rise, the number of workers who can only find part-time jobs has ballooned to 38 percent, and most economists now expect 2nd quarter GDP to shrink to minus... Read More
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Retail Sales Apocalypse leaves Abenomics in Tatters
Plunging retail sales and rising inflation have rocked Japan’s anemic economy and cast doubt on the future of Abenomics. While the US Commerce Department announced that first-quarter growth in the United States had slipped into negative territory for the first time since 2011 (-0.1 percent), the news from Tokyo was even grimmer. Following a tax... Read More
Enough Already
It looks like QE is going to end with a whimper instead of a bang. The bigwigs in the G-20 have put the kibosh on Japan’s money printing extravaganza. While most analysts expect the Bank of Japan (BoJ) to announce more “easing” in the days ahead to counter weakening economic data and droopy stock prices;... Read More
Abe's Kamikazenomics Slashes GDP to 0.7 Percent
Abenomics has been great for stock speculators and corporate bigwigs, but for everyone else, not so much. The fact is–despite all the media hype and monetary fireworks–Prime Minister Shinzo Abe’s three-pronged strategy to end 20 years of deflation has been a total bust. But don’t take my word for it, check out this clip from... Read More
Shifty Shinzo's Corporate Welfare Program
Abenomics is based on the idea that if you give rich people a lot of money, they’ll spend it and the economy will get better. There are a few minor flaws to the theory, however, like the fact that it doesn’t work. While trickle down has greatly impacted the sales of Gucci handbags, Farragamo scarves,... Read More
Corporate Plantations to Bolster Growth
“Japan appears to be turning an economic corner.” US Treasury Secretary Jack Lew Japan hasn’t turned the corner. Japan is merely doing what it’s been doing for the better part of the last 15 years, fumbling around with interest rates, fiscal stimulus, and goofy monetary policies in order to siphon more wealth from the working... Read More
Ferraris for the Rich and Bupkis for Everyone Else
Ferrari sales are going gangbusters in Japan, but beer sales have started to fizzle. That’s all you really need to know about Abenomics. According to Bloomberg: “Ferrari said sales in Japan will rise by 30 percent this year….(Sales have already) increased 28 percent in the first six months. Lamborghini sales are also soaring. According to... Read More
The Abenomics Flimflam
Abenomics is largely a bunko-scam wrapped in public relations gibberish. It has no chance of producing a strong, sustainable economic recovery. The real aim of the policy is to temporarily juice GDP with a sizable blast of fiscal stimulus ($100 billion) so the Bank of Japan can stealthily transfer more money to its chiseling investor... Read More
The Economics of a Fanatical, Rightwing, Militarist Crackpot
Liberal economists in the US are absolutely ga-ga about Abenomics, and for good reason. Under Japanese Prime Minister Shinzo Abe's leadership the Bank of Japan (BoJ) has flooded financial markets with money pushing stocks up nearly 80 percent in a matter of months, while $116 billion in fiscal stimulus has turbo-charged the real economy lifting... Read More
PM Abe Prepares to Hammer Working People
Japanese markets were whipsawed for a second time in three days while the yields on Japan Government Bonds (JGB) inched higher. The benchmark Nikkei Index shed 469 points in Monday's session lopping another 3 percent off Thursday's 7.3 percent plunge. Skittish investors are exiting stocks fearing that Abenomics and the Bank of Japan's (BoJ) efforts... Read More
Media Wants it Under the Wraps
"Almost the entire rich world is stuck in a zero interest rate liquidity trap situation, and I think everybody is haunted by the possibility that there's no way out of it. If Japan shows a way out of that, it will be very encouraging." - Greg Ip, U.S. editor of the Economist This is big,... Read More
The Problem is Deflation with a Capital "D".
“If possible, I’d like to see the Bank of Japan purchase all of the construction bonds that we need to issue to cover the cost.” Shinzo Abe, President of Japan's Liberal Democratic Party (LDP) Japan's next prime minister has a plan for ending deflation, increasing exports and boosting growth. Unfortunately, entrenched elites in big business... Read More
It's All Politics
Does anyone really believe that Toyota is being pilloried in the media for a few highway fatalities? Nonsense. If Congress is so worried about innocent people getting killed, then why haven't they indicted US commander Stanley McChrystal for blowing up another 27 Afghan civilians on Sunday? But this isn't about bloodshed and it's certainly not... Read More
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