{"id":15725,"date":"2015-12-27T20:32:02","date_gmt":"2015-12-28T01:32:02","guid":{"rendered":"http:\/\/olduvai.ca\/?p=15725"},"modified":"2015-12-27T20:32:02","modified_gmt":"2015-12-28T01:32:02","slug":"abenomics-is-dead-japanese-data-collapses-across-the-board","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=15725","title":{"rendered":"Abenomics Is Dead – Japanese Data Collapses Across The Board"},"content":{"rendered":"

Abenomics Is Dead – Japanese Data Collapses Across The Board<\/a><\/h3>\n
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With recent JPY strength not helping<\/a>, last week ended on a down-note for Japan as its\u00a0jobless rate ticked up from 3.1% to 3.3%<\/strong>\u00a0(the biggest rise since January)\u00a0and Household spending collapsed<\/strong>. However, as the last week of the year begins, things have not improved as a double whammy of awfulness just hit the shores of Abe’s nation with\u00a0retail sales (worst since the tsunami)\u00a0and industrial production ugly and missing across the board<\/strong>. We are sure, of course, that just one more dose of faith-based QE will fix this.<\/p>\n

Household Spending has been a disaster…<\/p>\n

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And Retail Sales is therefore terrible… (away from the effects of the pre- and post-tax hike moves,\u00a0this is the worst monthtly drop in Retail Sales since The 2011 Tsunami!!!)<\/strong><\/p>\n

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And so Industrial Production is lagging…<\/p>\n

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So to summarize – with JPY strength amid carry unwinds, Kuroda worriedly stuck on the sidelines, and global economic collapse, Japan’s Abenomics ‘program’ just created the following disaster trhee years later:<\/p>\n