Saturday, June 15, 2013
Abenomics in BIG Trouble
Up until now, Japan's six month experiment with Abenomics has resulted in consecutive months of record trade deficits, soaring energy costs, rising staples prices and a jump in bond volatility and yields so dramatic it led to consecutive halts in the Treasury market and the bond market window slamming shut for corporate credits. It has not resulted in a jump in economic output, in capital spending, and an increase in wages: the three key things needed for a sustainable and viable recovery (despite projections that 6-12 months in the future all shall be well, and the BOJ hiking its economic assessment almost on a daily basis).
Read the rest: Time For Abe To Start Worrying About His Approval Rating?