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Japanese Retail Sales Collapse By Most On Record
Given the pre-tax-hike surge, the oh-so-smart economists around the world were expecting some give-back from dragged-forward demand but the 13.7% MoM decline missed expectations by 2 percentage points. This was the largest MoM decline on record. Talking heads are already blaming the tax hike (but they knew all about it?) and year-over-year was just as dismal (and less immediately prone to events) as it fell by the most since the 2011 Tsunami. Bad news (the worst) is good news though right? Well no - USDJPY is down as is Nikkei as remember, Japanese inflation pressures are building and Kuroda has pushed off any actions from the BoJ for now.
Japan Retail Sales MoM - worst on record...
and YoY this is the biggest drop since the Tsunami...
Well played Abe...no wonder you are begging rich people to sya for vacation and spend...
Japanese govt considers extending duration of stay for affluent foreign tourists to maximum 1 year from current 90 days, Nikkei newspaper reports, without attribution.
Govt plans to set income, asset and age requirements by summer and implement new measures as early as this year: Nikkei
Measures aim at boosting consumption and property investment: Nikkei
Govt aims to double no. of foreign visitors to 20m by 2020, when Tokyo hosts the Summer Olympics: Nikkei
Please stay and spend money... cox the Japanese people sure can't now everything they need is going up.
Perhaps Spinal Tap have th enext move for Apenomics?
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Gotta be bullish for Abe to triple down. Forward Soviet
Best thing to do is to buy the Japanese 10 year at .57 percent yield. .... LOL
The whole fucking system is falling apart- ultimately a good thing, and yet it is still running...
Q to the E.
Mofos.
What was that backfire noise?
Even the MOTUs have to feel it by now. They can't have their heads so far up their own asses that they really believe this is going to work out. Can they?
At this point I'm almost hoping they have some evil plan for all this. If not, the next time around will be the widowmaker- everyone will burn for this.
Japan is the biflationary nightmare that awaits the rest of the developed world.
Think about it: retail sales COLLAPSE (!) AND yet they're simultaneously worried about INflation(!!) OMG!!
How's that for a paradox, hmmm? Collapsing demand is driving prices higher! Splain me that one, Milton Friedman!
There is no such thing as biflation. The money supply either is increasing as inflation, staying static (unlikely), or decreasing as deflation. Price levels in the real economy can still move up, or down independently as a result of supply, or demand shocks.
That's why deflation always being bad is nonsense. It's only bad all of the time for debtors and, by proxy, creditors who stand to lose cash in the event of deliquency on loans. It is particularly worrying for them when economic growth slows and loan repayments have to be enforced at gunpoint.
Not just delinquency on loans. Think about all the defaults (mortgages, credit cards, and student loans) of loans that are shown as assets on someone else's balance sheet. That money disappears into the thin air it was created out of. POOF.
Deflationary spiral.
Right. Absolutely.
it means NOTHING.. Buy stock Now!!!!
To the contrary, this news is SUPRA BURRISH!! You buy stock now or get out!
And how does this affect equities? Oh yeah, it doesn't.
http://www.ultraimg.com/images/qsuUv.jpg
This may well delay the next Dow high by a day or two.
Just short it, then cover feverishly to push it higher.
Its the latest thing ;-)
I don't get it. Why doesn't Abe recruit Belgium for some foreign QE?
Blame the weather. Or the radiation.
Nuclear shitstorm.
So after trying to tax & spend their way into prosperity, then trying to print their way into prosperity, what comes next? ;-)
Killing.
Sovereign default, and civil unrest.
adult dr degreed shit fucks...
Just print Moar and Tax Moar,
when is gold going to rally?
During a collapse of a financial system, or in the event of a currency collapse..though in the latter case, food, energy and water would arguably be the biggest winner. Also possible (regionally) in the event of a war, or civil war.
gold is in the process of separating the phy from paper.
paper being sold as phys market price influenced.
lows coming for buy of century...
phys will trade in east.
paper burns in west...
I see significant macro risk in China right now. Physical gold will hit a fever pitch out there, if not already.
some of those older japanese people literally stuff a mattress with paper yen rather than spend them.
"Lick my love pump!"
http://www.youtube.com/watch?v=FfhphrmKdsg
Smell The Glove
Only when the food prices double then triple will the circuits start frying. If you ever wanted to see what a robot rebellion looks like, stay tuned.
And yet all the bankrupt "Western" nations and their oligarchs seem impervious to any consequence of what many of us learned is insanity. It's depressing to be alone intellectually so much of the time, while the world seems to be happy happy joy joy.
Kamikaze or Harakiri!
Don't worry, Nikkei only 0.5% down, Abe will fix that.
Does anybody know if activity on Alibaba, Ebay, Amazon and the rest have benefited from this? If I was in Japan, I'd sure be looking to inadvertantly increase the retail sales of other countries if free shipping and no VAT was part of the equasion.
God damn animal spirits.
Buddhism has got its price. But what's the problem? This world is just a coincidence.
Japan,
You get to blow up first, then the US a bit later.
Those in the US get to see the implosion.
It's what happens when you listen to a bunch of Keynesian PhDs at the US Federal Reserve.
While they claim otherwise, in many ways Bernanke and the Fed have put America on a path that mirrors the same unsuccessful path taken by Japan. A path that avoids real reform and bails out the very people that caused many of our problems. Bernanke has upped the ante by setting the bailout and money printing machines on high and flooding America and the world with QE. By selling other central bankers on this solution he has taken the lead in an experiment that is losing traction. Real momentum seems to ebb shortly after each new wave of stimulus and another fix seems to constantly be needed.
japan is by far the most lethargic complacement fake-polite society i've ever seen
most famous economy saying right now is basically "it cannot be helped"
with a fake smile. always with a fake smile.
I'm sucking through may teeth saying, "That is very difficult."
Well said!
Retail sales are tied with consumer confidence, when that falls, the stock market will fall.
The idiots, they made their cars last for 25 years. What did they expect. I've got my 1992. Used it everyday for 22 years so far.
Looking good for a huge MoM increase next month that proves the recovery has started
...and the Nikkei closes...UP!
The "funny moment" will be at 830 when revised US GDP for Q1 gets revised negative - and the S&P500 moves higher to more all time highs.
Thanks for waiting so long to taper Yellen - you should IPO your ass and perhaps you could make a few hundred million more.
Janet Yellen has been head of the Federal Reserve bank long enough that we no longer need to speculate as to her job performance. As we begin to critique her ability to perform we must remember perception is often just as important as reality. Another issue that comes into play is how you stack up or compare to the person who held the position previously, this often extends to style as much as it does to substance.
As expected it appears Janet Yellen has chosen to take us down the same the rabbit hole as Bernanke on a journey to prove that if we just continue doing what is not working, all will turn out fine. Caution, this path leads down, and down, and down, farther and deeper then most can ever imagine. If asked to critique "Old Yellar" now playing in theaters everywhere I would by way of the reasoning above have to give her the maximum two solid thumbs down. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/05/yellens-job-critique.html
Thanks for keeping us informed on the shit fest known as the economy of Japan. Each day Japan continues to slide towards an economic abyss. The writing is on the wall. Japan is facing a wall of debt that can only be addressed by printing more money and debasing their currency. This means paying off their debt with worthless yen where possible and in many cases defaulting on promises made. Japan's public debt, which stands at around 230% of its GDP and is the highest in the industrialized world.
The moment the Japaneses stock market fails to rise enough to offset inflation this will turn into a tsunami of money fleeing Japan and constitute the end of the line for those left holding both JGBs and the yen. This has been a long time coming and I contend the cross-border flow of money leaving Japan is why some stock markets have remained so resilient . When Japan crumbles it will be felt across the world. A country cannot recover from the problems Japan faces. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/05/japan-sliding-towards-abyss.html