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Japan Breaks 48-Month Deficit Streak, Manages Marginal Trade Surplus On Collapse In Imports
After 48 months of trade deficits, March saw a very modest JPY3.3bn surplus (vs JPY409bn deficit expectations), driven by a collapse in imports. Exports rose 8.5% (as expected) but against already dismal expectations of a 12.6% drop, March saw Japanese imports crash by 14.5% - the most since Nov 2009 (driven by the plunge in oil prices - aleviating some of the post-Fukushima fuel demands cost). Of course this is terrible news for stocks as it means less stimulus from the BoJ...asnd JPY is strengthening modestly.
The 48 month deficit streak is over...
Thanks to a collapse in imports...
For now JPY's reaction, as expected, is stronger against the USD but it's very marginal...
Charts: Bloomberg
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Good news?
Oh Sh!t
Totally took the words from my mouth!
Collapse in imports due to debasement of currency & impoverishment of Japan's citizens = "Winning According to Krugman."
When Japan gets to mass malnourishment, Krugman will ejaculate semen of joy.
You can do it like Greece too, let foreigners lend you money while you run decade long trade deficits. I think debasement/devaluation is a better alternative.
Every country should pursue trade balance in my opinion. Monetary manipulation might not be the best way, but it's certainly the easiest. The alternatives are import/export certificates or capital controls (if you don't let foreigners loan you money trade balance is guarantueed). In theory you can do it fiscally too, but that's politically unfeasible.
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Greece feels like the contagion that leads to a real catastrophe.
Not just financial either.
If the exit is planned correctly, it can all be blamed on greece.
The BoJ will come back and say it's bad for their inflation target having lower energy prices. Japan is a giant potemkin village.
Burrish!
the nikkei will finish up 200 plus pts.
good news is good news and bad news is good news.
Well, that seems bullish
Printing WORKS!!! Can't you just feel the value that's been created?!
Cant wait to see the new Toyotas made up of fiat currency.