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Tis only a "technical" recession though. Don't sell your investment/treasury grade bond funds just yet. If nothing changes overnight, they'll likely have a positive Monday.
Pump the money and raise taxes; always seems to be a winning combo, eh?
225 index down about 2.6% at this time (9:45pm EST).
I'm wondering if the talk of the upcoming tax hike actually forced consumers to cut back on their purchases early thus putting them in this situation? Abe may be done for here.
@JohnChisum This stuff was discussed last year regarding throwing in the "consumption tax", let alone kill the yen when so much is imported.......'couse supposed to help exports, too. Don't know how things move along there from this point. One may guess the traders will blow this off after a few days or weeks and go about the business of money. Take care there in the warm P.I. About 20 degrees temp. tonight in Michigan. Catch
The country that has demographics issues, massive debt and has to import nearly everything (especially fuel) is having trouble after unleashing massive monetary stimulus and significantly raising taxes, driving the country's misery index to multi-decade highs? Surprising to whom? It's really rather irritating that the media continues the tactic of anything negative is a "surprise" (everything is spin) and they certainly have to be cheerleaders for Abenomics.
What wont be a surprise is when it's decided that this didn't work because it wasn't enough and they have to double and triple down.
Comments
This stuff was discussed last year regarding throwing in the "consumption tax", let alone kill the yen when so much is imported.......'couse supposed to help exports, too.
Don't know how things move along there from this point. One may guess the traders will blow this off after a few days or weeks and go about the business of money.
Take care there in the warm P.I.
About 20 degrees temp. tonight in Michigan.
Catch
It was just a week ago that the Nikkei was going gangbusters.
What wont be a surprise is when it's decided that this didn't work because it wasn't enough and they have to double and triple down.