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24.09.26 - 15:57
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Japan Breaks The ′Debt Causes Inflation′ Narrative (ZeroHedge)
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Japan Breaks The 'Debt Causes Inflation' Narrative
Authored by Michael Lebowitz via RealInvestmentAdvice.com,
A dollar today buys nearly twice as many Japanese yen as it did fifteen years ago. Crude oil, in yen terms, is up roughly 70% year to date. Food prices are similarly elevated. Japan imports most of the energy and much of the food it consumes, paying for it in dollars that keep getting more expensive. Those facts alone should lead us to conclude Japan has an inflation problem.
As if those factors weren't enough, add their debt overhang, with the narrative that mounting government debt is inflationary. If that logic holds in the US, it should apply with even more force in Japan, where government debt is nearly double ours as a share of the economy, and where the yen carries none of the dollar's reserve-currency privilege to cushion its borrowing needs.
A collapsing currency, heavy import dependence, and the developed world's heaviest debt load. Surely that's a recipe for an inflati...
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18.09.26 - 08:36
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Japan raises interest rates to 31-year high as central bankers fight inflation; retail sales rise in Great Britain – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsDespite the inflationary squeeze on households, retail sales across Great Britain have risen over the summer.The heatwave, a pick-up in web shopping, and the joys (and pain and disappointment!) of the men's football World Cup, helped to lift spending over the three months to August, new data shows.“Retail sales increased in the latest three months, with a particularly strong June for online outlets helping to boost their sales across the period. Food store sales also rose, with supermarkets doing well in July and August.“Meanwhile, retailers selling alcohol and beverages performed well across all three months, which they attributed to promotions, the hot weather and the World Cup.”So although the central bank reiterated that it will continue raising rates if economic and inflation conditions evolve as projected, the market has reacted to the two high profile dissenters. The Yen is -0.72% lower at 157.10, having been at around 153.40 at the s...
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Inflation/Deflation Japan 68272.073 -0.11% (Nikkei Kurs)
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