Japan

Why Japan’s Trade Fiasco Worries Me So Much

According to Japan’s state religion of Abenomics, devaluing the yen would boost exports and cut imports. The resulting trade surplus would jumpstart the economy and induce Japan Inc. to invest at home. It would save Japan. But the opposite is happening.

No Money, No Problem, Bank of Japandemonium Takes Care Of It

Just before Christmas when no one was supposed to pay attention, Japanese Prime Minister Shinzo Abe and his ministers agreed on a budget for fiscal 2014. It’s a doozy. Instead of slowing down the fiscal fiasco, Abenomics is speeding it up. With an elegant solution.

This Inflation Is Supposed To Be GOOD For Japanese Workers?

Japan’s new economic religion of printing yourself out of trouble works. For the elite. This is a lesson learned from the Fed. But how are workers and consumers faring? And by implication the real economy?

Japan Is Used To Natural Disasters, But This One Is Man-Made

The dogfight over Japan’s biggest problem, its gargantuan government deficit, entered its annual ritual of leaks and pressure tactics that usually lead to a pre-Christmas draft budget with an even bigger deficit. But this time, it’s different. Very different.

Here Is Proof (Provided By Japan Inc.) Why Abenomics Fails The Real Economy

The beneficiaries of Abenomics are now coming out of the woodwork with soaring profits – but they’re doing the opposite of what Abenomics promised they’d do: they’re diversifying away from Japan.

High-End Food-Fraud Scandal Deliciously Spirals Out of Control, Whacks Japanese Consumer Confidence

Today it was Hotel Okura Co., which operates landmark hotels across Japan. It confessed its restaurants had misrepresented 235 menu items. That followed confessions by leading department store chains, other high-end hotel chains, traditional ryokan hotels…. New revelations bubble up daily. And consumer confidence is taking a hit.

Bank of Japandemonium Killed And “Sacrificed” The JGB Market

“The JGB market is dead,” announced with finality Tetsuya Miura, chief bond strategist at Mizuho Securities, one of Japan’s 23 primary dealers that have to bid on government securities. It had been “sacrificed” by the Bank of Japan, said another industry heavyweight.

Japanese Banks Work with the Yakuza

As the scandal is spreading, Japan’s Financial Services Agency, which has been sleeping peacefully through this for years, will suddenly probe Japan’s megabanks, Mizuho, Mitsubishi UFJ, and Sumitomo Mitsui.

Japan’s Most Hated Outfit, TEPCO, Reports Fat Profit (From Taxpayer Bailout Money)

TEPCO, the bailed-out owner of the Fukushima nuclear plant, famous for its lackadaisical handling of the fiasco and its parsimonious delivery of information, reported earnings today. It was a doozie! And a glimpse into what’s in store for Japanese taxpayers.