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"It's Not Abenomics, It's The Weather" Japanese Econ Minister Admits Growth Is Weak

Tyler Durden's picture




 

Amid two (notably female) resignations this weekend (Justice Minister Matushima and Trade Minister Obuchi for alleged misuse of political funds), Abenomics tilt towards women as a pillar of the Japanese recovery is taking yet another blow, removing "one of his ways of distracting people from his less popular policies." However,it is Japan's Economy Minister, Akira Amari, that went full economic retard this weekend - having learned well from his wise American central-planning brethren. Rather than face reality that Abenomics currency devaluation printfest has crushed the consumer beyond all expectations (as we noted since the start and Goldman just admitted), he blames the weather for economic weakness: "including the effects of large typhoons and heavy rains in July and August, Japan’s 3Q economic situation is probably not a strong recovery."

 

 

As Bloomberg reports,

After nearly two years without a single resignation from Japanese Prime Minister Shinzo Abe’s cabinet, two female ministers stepped down on the same day.

 

Yuko Obuchi, trade and industry minister, resigned over allegations of improper use of political funds, and Justice Minister Midori Matsushima, 58, quit over claims she breached election laws. The resignations are a double blow to Abe who has made promoting women a pillar of his economic policy.

 

The resignation of the two ministers “one of his ways of distracting people from his less popular policies is no longer a distraction.”

But that's the least of Abe's worries as the economy flounders back towards recession and moar QQE is untenable... (as we explain here)

Akira Amari's official website explains...

“Including the effects of large typhoons and heavy rains in July and August, Japan’s 3Q economic situation is probably not a strong recovery,” Japanese Economy Minister Akira Amari writes in a post on his website.

 

Amari: “Unless there is really strong data in September, we will have to decide on a stimulus package to return the economy to the growth path, with this delinked from the decision on the sales-tax increase”

 

Amari: It’s better to decide on a further sales tax increase as early as possible so compilation of next year’s budget not left unfinished at the end of this year

 

Amari: Prime Minister Shinzo Abe’s advisory panel which will examine the current economic situation will be held over a few days before and after the announcement of preliminary 3Q GDP on Nov. 17

It appears the opposition party in Japan are simply reading straight from Zero Hedge and Goldman's script...

Opposition has pointed out miscalculation and misconceptions of Abenomics.

 

Exports does not extend to a weaker yen, real wages Toka are going down, and have contributed more negative than positive, rather than a break from the deflation, the depreciation of the yen has caused a recession, stagflation of inflation

 

Exports due to the depreciation of the yen has not yet been been growing as expected and is a miscalculation, to be sure

*  *  *

For those banking on moar flow from the BoJ, think again.

 

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Mon, 10/20/2014 - 20:28 | 5357405 TeamDepends
TeamDepends's picture

Sushi simply not up to par lately. You boil it, torch it, karate.... That glow will not out.

Mon, 10/20/2014 - 20:39 | 5357445 markmotive
markmotive's picture

No wonder the Japanese stopped having sex with each other.

http://www.planbeconomics.com/2014/06/no-sex-please-were-japanese-docume...

Mon, 10/20/2014 - 20:40 | 5357456 knukles
knukles's picture

Ya' know they are into some weird tentacle porn stuff, dontcha?  So maybe....
Turn the light out.
Whatchu mean the lights are off?

Mon, 10/20/2014 - 21:30 | 5357602 tc06rtw
tc06rtw's picture

Maybe we're going about this
the wrong way . . .

Instead of trying to find better politicians & economists, we need to perfect

—  WEATHER FORCASTING  —

THEN we'd know the right monetary policy to follow !!

Tue, 10/21/2014 - 02:37 | 5358298 CASTBOUND
CASTBOUND's picture

my neighbor's half-sister makes $63 /hour on the internet . She has been out of work for 10 months but last month her pay was $16551 just working on the internet for a few hours. More Info... www.job-reports.com

Mon, 10/20/2014 - 20:27 | 5357406 suteibu
suteibu's picture

Nothing like higher taxes to spur the economy.  History proves that works every fucking time.

Mon, 10/20/2014 - 20:42 | 5357448 knukles
knukles's picture

Only thing we learn from history is that we don't learn a fucking thing from history. 
So, not all's lost.

Mon, 10/20/2014 - 21:14 | 5357582 KnuckleDragger-X
KnuckleDragger-X's picture

Winter is coming......

Mon, 10/20/2014 - 21:30 | 5357651 Bunga Bunga
Bunga Bunga's picture

By coincidence winters are especially severe in central planning only.

Mon, 10/20/2014 - 20:45 | 5357465 nmewn
nmewn's picture

Abe just hired Sandra Fluki as Trade & Industry Minister, problem solved! ;-)

Mon, 10/20/2014 - 20:45 | 5357467 knukles
knukles's picture

Well, Monica says that Drudge ruined her life.  I'd thought her very own stupid ass antics had a bigger part to do with it, but, what do I know.
http://www.truthrevolt.org/news/monica-lewinsky-drudge-ruined-my-life

And of course, if Drudge ruined Monoica's life, what do you expect that Bill's bent member would do for the Japanese economy?
Fuck all nothing.
So it's not the weather.
See?

Mon, 10/20/2014 - 20:51 | 5357482 starman
starman's picture

Once the masters of great technology now just a lost and broke society. 

What a shame really. 

Mon, 10/20/2014 - 20:57 | 5357508 Spungo
Spungo's picture

God damn the one on the right is fugly.

Mon, 10/20/2014 - 21:17 | 5357587 KnuckleDragger-X
KnuckleDragger-X's picture

Yeah,she is almost FED worthy....

Mon, 10/20/2014 - 21:58 | 5357743 edifice
edifice's picture

CORN FED? What would the equivalent be in Japan?

Mon, 10/20/2014 - 21:11 | 5357564 livefreediefree
livefreediefree's picture

What? Ludicrous speed Keynesianism doesn't work? Too much warp, maybe? Too much anti- and not enough pro-matter?

Mon, 10/20/2014 - 21:13 | 5357577 Bunga Bunga
Bunga Bunga's picture

... and not to forget Ebola & ISIS to blame.

Tue, 10/21/2014 - 05:44 | 5358412 BrosephStiglitz
BrosephStiglitz's picture

Yen hyperinflation coming in 3.. 2.. 1..

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