With real incomes collapsing, approval ratings at record lows, and PMIs back in contraction [5]; is it any surprise that the last thing standing for Shinzo Abe to "show" the world his 'progress' is the stock market... the all-knowing arbiter of monetary and fiscal policy-maker success (and completely divergent indicator of real economic health). To wit, overnight saw Japan's Nikkei 225 surged to its highest since Nov 1996 (up almost 150% since Abenomics devaluation was unleashed). The last time we saw such a surge brings a chill air to the conversation as Japanese stocks pass the halfway-back mark to 1989's epic bubble peak, it is begining to look a lot like peaking once again.
19 Year Highs... The REAL Japanese economy must be awesome right?
[6]
Wrong?
[7]
And we suspect time is running out...
[8]
There is always a limit.
Charts: Bloomberg
