Time For Reality To Catch Up: China, Japan, South Korean, US Data Miss Expectations, Greek Economic Contraction Gets Uglier, Slovenia Cuts Growth Forecast as Bail-out Fears Grow, And 16 Big Bubbles That Are Getting Ready To Burst…
April 1st, 2013
Has Abenomics Stalled Out?
One of the big stories of the last 6 months has been “Abenomics.”
This is the moniker given to the economic regime being imposed by Japan’s new Prime Minister Shinzo Abe, who hopes to revive the country’s weak economy via fiscal stimulus, monetary stimulus, and even structural reforms. You can read a complete guide to it here.
Anyway, in financial markets Abenomics has been greeted enthusiastically.
The Nikkei has been a prime mover. And the belief that the Bank of Japan would finally lower real interest rates significantly was causing the yen to dive (something that exporters have been happy about).