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Japocalypse Now - Machine Orders Crater 19.5%, Biggest Monthly Drop On Record
"Bye, bye, Abe" Just when you thought Japanese macro data couldn't get any worse... it does. Plumbing new depths in the "you can't print your way to prosperity" plan, Japanese Private Sector Machine Orders collapsed 19.5% month-over-month - the largest monthly drop ever (as the dragged-forward pre-tax-hike demand left a hole the size of Fukushima behind it). With Abe's disapproval ratings soaring and inflation surging, hopes for more 'bad news is good news' QQE should be quickly dismissed.
This 19.5% collapse MoM (compared to expectations of a 1.1% rise!!!!) is not made any more easy for Abe to bear than the 14.3% Year-over-year plunge as Abenomics exuberance makes comps now considerably harder....
Think this is normal post-tax hike behavior!! Think again.
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nikkei flat.....10yr jgb .55%
How many ETFs are being bought by the BOJ right now?
One little piggy, two little piggy, three little piggy moar.
The dollar, and Yen, and Renminbi are getting replaced by bitcoin. Get some free at http://freebitco.in/?r=25727
replaced, possibly. but slowly.
at this stage i would go with the silver miners.
first majestic silver. ag. for starters.
It only gets Bitter from here...
down 19.5%.... I guess all the US corporations cap ex spending went into share buy backs last month.....
Thanks for the info, dude. No need to post this stuff here though. Really.
DOUCHE BAG....
One of our Japanese bearings is our No. 2 best selling piece (we carry some 600 different items). Maybe this decline in machinery orders will free up bearing capacity for us in Peru. MBS (Japan) also makes our Nos. 19, 21, 24, 27, 32, 34 and 39 pieces (by $ sales volume). So, even though MBS is the smallest of our four regular suppliers, their pieces are very important to us.
Maybe we can get lower prices and better delivery too...
thank you for your always unique and illuminating discourse. and the inside look at the crucial bearing industry. i remember the effort in ww2 to destroy germany's ball bearing manufactury; it had albert speer very worried for months before the allies, inexplicably, stopped.
a ball bearing rolled toward me at the winn dixie today (about 3/8ths of an inch diameter) and i pocketed it. it is now in a tiny, jeweled metal shoe at the center of three pewter hippopotami (jaws out and open) inside an open, red silk-lined, sterling silver heart-shaped box.
love my bearings.
It is my opinion that all bearing guys are swell! So give yourself a pat-on-the back! 52100 steel is a precious metal in our book...
My limited reading of the Allied bombing of the Schweinfurt ball bearing plants is that they did NOT bomb them into complete rubble. Apparently they would bomb (not very accurately in those days), take note that the factory looked "kaput", and then go find something else to bomb. The problem was that the Germans would then quickly rebuild the factories and get back into production. The Allies NEVER PULVERISED the machinery, THAT would have probably done the trick.
Too many people have lost their bearings in today's world.
One corrective solution would be to bombard them with bearings. Lots and lots of big, heavy bearings.
as for "you can't print your way to prosperity"
this is not true and has never been true...counterfeiters (perfectly legal in this context), or the historical money clippers...or whatever you'd call them, have always been able to "print" THEIR way to prosperity.
It's all about choosing the winners and losers.
Abe is going Machine buying next, he can store them at FuckUshameUS
And magic loses again.
Once you get to zero orders, it only gets better from there....crisis solved.
Good for you, always finding the silver lining.
Just buy the customer, then one can have all the sales one desires.
- Keynesian Proverb
Regards,
Cooter
the real silver lining?
China's exports only missed estimates by 3% in June. burrish!
China's trade surplus only missed estimates by 10%. burrisher!
it's all looking like rainbows and unicorns from here on out.
10 year JGB 0.57%. All is good. Please move along no need to worry.Wait for the fourth arrow please.
The carry trade, right out the door.
Feet first.
All is going according to plan. One world (corporate) order bitches. We must squeeze the slaves to the point where they beg for even greater slavery.
Once the user becomes an addict all questions of choice are moot.
Korean imports and exports YoY also in the shitter.
KRW South Korean Exports (YoY) -10.60% -8.10%
KRW South Korean Imports (YoY) -8.80% -6.80%
these shittz were predictable ..
" Government bureau .... where the taxpayer leaves his shirt "
... Anonymous
is this another buy signal? Market is a ferris wheel
More bad news is bullish. The lever is stuck at bid up stocks.
making alot of nothing on those machines
Yes but think of the cost savings from reduced power consumption and wages.
e-mins don't care, e-minis don't give a fuck.
We have moved passed the era of production and industry into an era of cloud computing; no real machines needed.
way of the future
Party time is over.
Now enjoy your long painful hangover.
Somewhere in Texas a man named Kyle Bass has cracked a smile.
Not so sure. Nikkei is down only .08%. Abe stepped up buying or nobody gives a fuck. Not sure it matters...
No one wants nor can afford for it to go down...so it won't. Its all made up anyway, so they make new rules as they go along.
Indeed:-)
I really sympathize with the Jap-on-the-street, so to speak. It appears the average hard working Japanese person is getting a screwjob similar to the average hard working middle class merikan. I have visited there several times in the past and found the people to be fairly friendly, extremely clean and uber-industrious and the streets very safe [except maybe in Okinawa near the USA military base].
I lost my idealism long ago and stopped hoping for [unpossible] world peace. However, I still hope for all those Asians to get along with each other [especially since I love visiting their countries is my selfish reason].
Yup. Those mild-mannered, fun-loving Japanese. I reckon the folks of Nanking might tell another story...
They are probably just on vacation, or it rained, or the phone rang, or the dog ate their orders, its just that time of the month, or something. Its always something unrelated to destructive policies directed by economic rubes who will never be held to account. They will simply be remembered as brave geniuses who shepherded their economy through rough times. Western countries are just going to have to take lessons from African nations and simply change their names to erase their debts. FOOLS, "Fellowship Of Obscenely Leveraged Society" gets my vote, because we know,without consequences, we WILL do it again.
Oldwood I fear that "Western countries are just going to have to take lessons from African nations and simply change their"... entire standard of living & life expectations. Catherine Austin Fitts talks about a "slow burn" perhaps correct or not, but its certainly equivalent to the 30+ yr demise of average black & white standard of living in Zimbabwe now in free fall. As we all know the globalists go after every nation relentlessly year after year one way or another, whether or not debt is theoretically erased.
BTW I once had a peach face parrot that did shred my homework for her nest... my teacher got used to seeing the nibble marks on most my papers, but I still had to turn in the work, sigh.
PS Mugabe's mates are CFR & Rockefeller mates.
http://www.forbes.com/sites/mfonobongnsehe/2014/07/06/10-inspirational-quotes-from-zimbabwes-richest-man-strive-masiyiwa/
Strive Masiyiwa is Zimbabwe’s wealthiest man and one of Africa’s most celebrated businessmen. Masiyiwa, who is worth $600 Million by FORBES estimates, is the founder of Econet Wireless Group, a Pan-African mobile telecoms company with operations across Africa, the U.K and New Zealand. He is also a member of the Advisory boards of the Rockefeller Foundation and the Council on Foreign Relations.
Everyone wants to make money and the easiest way to do it is to not see people as fellow human beings, only something to be subjugated, used, consumed or controlled. Big business and big government are the epicenter for this kind of thinking, but anyone can adopt it. Many a murderous criminal sees it as the easiest path to prosperity, and most of us reject that kind of behavior, but we tend to be more tolerant of it as our dependencies gain more reliance upon them. We live in corrupt times, where concentration of power and abandonment of morality is seen as necessarily positive to ensure our continued existence, at least until it is our turn to be consumed.
Whatever happen to that Typhoon that was about to direct Hit ???
Deflation...its a typhoon killer.
USD/JPY nearing the 101.5 level...
They're not selling to China
Their trade just did a face plant
Of course, futs barely reacted.
Can't show fear. Can't show negativity. Can't show lack of confidence
Living on a thin line
Dear Japan Manufacturer,
I hear printers are hot
What's wrong with y'all? It's the weather stupid!
/sarc
Biflationary typhoon
Just turn the charts upside-down. Problem solved.
Japan needs to quit feeding the blackswans.
At least they still got SUKI (tm), The New World Religion (tm) there.
Really?? What about this?
http://asia.nikkei.com/Business/Trends/Japanese-companies-saw-35-jump-in...
Oh right, this doesn't fit in to "Japocalypse Now" headline
Thanks to the web you can always find what you want to hear.
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. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/05/japan-sliding-towards-abyss.html
Buy American
Japan is in crazy bad shape right now. The earthquake, tsunami, Fukushima, the typhoon, Abe and his horrible economic policy, demographic shrinkage, and a militant China licking its chops.
There is no way out for them. Japan is simply toast. If they stopped what they are doing now and put all their effort into making babies, renewing the Tokugawa-era isolationism, and building up their military, they should be able to survive as a nation. If not, I don't know what they can do.
Won't work, Japan wouldn't have enough oil to support a war machine. So they're toast. Period.
Don't worry, the BoJ will fix it. I heard they just wired huge orders for printing machines.
I won't post a direct link, but there is a particularly foul and rotten Japanese video over at eFukt right now.
So they've got that going for them ... which is nice.
Could it just be that Japanese government statisticians use less statistical magic than the rest of the world?
Just the same keynesian calculators as everyone else. 2+2=5
Japan is showing the USSA, EU and other western nations where they are headed. Of course, that won't stop them from following Japan over the cliff like lemmings. Ka Splat!
PS: This is proof all Keynesians know their propaganda is nonsense.
Are we still in bad news is good news mode though?
Seems the mass media is ignoring the Japan situation and the equity "investors" probably believe this stuff can be "contained".
Good luck with that.
Message to Kyle Bass: you will ultimately be right on your short position --- but you will collect a fistfull of air.
When this fucker goes >>>>> EVERYTHING GOES >>>> NOBODY GETS PAID.
This will be 2008 on roids, crack, herion, blow, HGH x 10,000, with no bail outs.
Suggesions:
- buy and hold physical gold
- make sure you have enough food and water for 3 months
- if you don't have productive farmland don't worry about it - most people will be dead because they don't have food and water- and the government will not be helping anyone
- if you are in a country that allows firearms - get one - with lots of ammo - the first few days could get hairy - but remember - most people have no food or water - they will be dead within a week or two
- the key is surviving the first few weeks
Kind of like pedestrian right of way. You can be right, but dead right. For hedge funds like Kyle's, it not just about the money, its about being right. Credibility creates access to lots of money, even if its funny money. Just a big fucking game with lots of collateral consequences.
Can't they get a bunch of brilliant, black-belt MBAs to cook up a kanban and fix their shit? Works in America, right?
futures down huge, Japan over the edge
great day to be short
Japocalypse now...Great title :)