{"id":1813,"date":"2014-11-19T19:18:36","date_gmt":"2014-11-20T00:18:36","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1813"},"modified":"2014-11-19T19:18:36","modified_gmt":"2014-11-20T00:18:36","slug":"why-japans-money-printing-madness-matters-david-stockmans-contra-corner","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1813","title":{"rendered":"Why Japan\u2019s Money Printing Madness Matters | David Stockman&#8217;s Contra Corner"},"content":{"rendered":"<p><a href=\"http:\/\/davidstockmanscontracorner.com\/why-japans-money-printing-madness-matters\/\">Why Japan\u2019s Money Printing Madness Matters | David Stockman&#8217;s Contra Corner<\/a>.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">This is getting hard to\u00a0believe.\u00a0The\u00a0announcement that Japan has plunged into a triple dip recession\u00a0should have been lights out for Abenomics. But, no,\u00a0its madman prime minister has now called a snap election to enlist more public support for his campaign to destroy what remains of Japan\u2019s economy.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\"><a class=\"image-anchor\" style=\"box-sizing: border-box; word-wrap: break-word; color: #0089c4;\" href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2014\/11-overflow\/20141117_abe.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" style=\"box-sizing: border-box; word-wrap: break-word; max-width: 100%; height: auto; border: 0px initial initial;\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2014\/11-overflow\/20141117_abe.jpg\" alt=\"\" width=\"375\" height=\"304\" \/><\/a><\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">And what\u2019s worse, he\u2019s not likely to be stopped by the electorate or even the leadership of Japan Inc, which presumably should know better.\u00a0Here\u2019s what\u00a0Japan leading brokerage had to say about the \u201cunexpected\u201d\u00a01.6% drop in Q3\u00a0GDP\u2014- compared to the\u00a0consensus expectation of a 2.2% gain\u00a0and after the\u00a0upward revised shrinkage of 7.3% in Q2.<\/p>\n<blockquote style=\"box-sizing: border-box; word-wrap: break-word; font-size: 0.9em; color: #666666; border-left-width: 10px; border-left-style: solid; border-left-color: #aaaaaa; padding-left: 12px; margin: 5px 0px 1em 0px;\">\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">We think that the economy is gradually improving,\u201d said Tomo Kinoshita, an economist at Nomura Securities. \u201cThere\u2019s no reason to be pessimistic about the economy going forward.\u201d<\/p>\n<\/blockquote>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">Really?\u00a0How in the world can an economist perched at the epicenter of Japan Inc. think that its economy is improving when Japan\u2019s\u00a0constant dollar\u00a0GDP has now fallen back to pre-Abenomics levels; and, in fact, is no higher than it was in late 2007 prior to the \u201cfinancial crisis\u201d? Indeed, aside from the Q1 pull-forward of spending to beat the consumption tax increase, Japan\u2019s economy has remained stranded on the flat-line it attained after world trade recovered from its 2008-2009 plunge.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why Japan\u2019s Money Printing Madness Matters | David Stockman&#8217;s Contra Corner. This is getting hard to\u00a0believe.\u00a0The\u00a0announcement that Japan has plunged into a triple dip recession\u00a0should have been lights out for Abenomics. But, no,\u00a0its madman prime minister has now called a snap election to enlist more public support for his campaign to destroy what remains of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1265,312,353,452,1264],"class_list":["post-1813","post","type-post","status-publish","format-standard","hentry","category-economics","tag-abenomics","tag-financial-crisis","tag-gdp","tag-japan","tag-recession"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1813"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1813\/revisions"}],"predecessor-version":[{"id":1814,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1813\/revisions\/1814"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}