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Japanese Trade Deficit Streak Hits Record 44 Months, Yen & Stocks Decoupling
While hopes of the J-Curve recovery in the deficit are long forgotten in the annals of Goldman Sachs history, silver-lining-seekers will proclaim the very modest beat in tonight's Japanese trade deficit a moral victory for a nation whose economic data has been nothing but abysmal for months. However, the near $1 trillion Yen deficit is the 44th month in a row as exports to US and Europe rose modestly in Yen terms but dropped to China and US in volume terms. USDJPY continues its march higher (now 118.25) but, unfoirtunately for Abe's approval ratings, Japanese stocks continue to languish an implied 1000 points behind - unable to break back above pre-GDP levels... as faith in Kuroda's omnipotence falters.
44th month in a row...
And the currency and stocks are rapidly diverging...
Charts: bloomberg
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Welcome to Japan's looming Depression.
Currency debasement, purchasing power debasement, complete loss of faith in BOJ & elected officials, massive Yen printing & government debt monetization, the highest debt on a GDP basis (nearly 260% now) of any developed economy, and insane people (i.e. Paul Krugman) advising Kuroda.
Good luck, Japan.
Krugmanomics FTMFL.
You mean ongoing as in 2+ decades. They've been very good at covering it up until now.
118.6 to $
sweet
You can change Japan for USA and it is still true
Friedman advocated increasing the monetary base (debasement) not Krugman.
What in the fuck are you talking about? How many articles do you want me to link you to where Krugman supports abenomics?
Don't mind him. He was trained to be a village idiot and was a natural
Krugman has been advising Prime Minister Abe & Kuroda all along:
"Paul Krugman last week met with Abe..." November 12th
http://washpost.bloomberg.com/Story?docId=1376-NEVBB36JTSEO01-66Q4QOP3H8...
Abenomics IS Krugmanomics.
It's really simple- the world is in a sea of debt and broke.
There is only one thing to force all governments to do - deleverage (aka default and cancel)
People should be taught not to lend the government money to begin with.
Governments shouldn't be allowed to borrow money.
A lot of stories about Japan today. The Diet is out on Friday. Now Abe is catching hell for the cost of the snap election, Y60 billion, as a waste of money. Maybe people are figuring out that the solution is to have no government.
Hows that working out in Somalia?
Not necessarily advocating, just pointing out the irony of wanting to get rid of the current government and not wanting to pay for the election of a new government. That said, given the slate of people who are likely to step into power, it seems understandable.
As for your trite reply, Somalia is not Japan. Local government in Japan would do just fine without central planning.
Why do you village idiots keep parroting that lie? Somalia is a parliamentary republic and has a president and prime minister. Their government us dysfunctional. I doubt the Japanese would start pulling out guns and killing each other if the government collapsed
Don't bother trying to talk sense into a nanny state deadbeat
politicians and political parties collapse in japan; but the 'government' won't. there will always be an eledted shogun figure head
Why do you village idiots keep parroting that lie? Somalia is a parliamentary republic and has a president and prime minister. Their government is dysfunctional as is their entire society. II doubt the Japanese would start pulling out guns and killing each other if the government collapsed
I'm still surprised this has been going on for so long. Truly amazing.
If they can do it for twenty years we should be able to hold on for another fifty years at least
This will disapoint the doomsayers but it is the UGLY truth.
So much for the export miracle.
Geez this is like watching what will happen to us beforehand. Sort of like being on death row and watching the executions take place ahead of you.
More popcorn please.
Abe doesn't understand cheap yen doesn't always improve their exports & economies. There are somethings called Korea, demographic, fukushima, energy imports, nationalism, .....
'Tis but a scratch.
A scratch? Your arm's off!
What's Japanese for: "I've had worse."