certainly giving the Japanese economy lots of thumbs up in media outlets today
Makes for great headlines I guess
GDP grew faster than the consensus lol -
Truth - Japanses GDP was growing at 2 % annualised rate in the second QTR,
ongoing and more stimulus in the third QTRs was provided,
Japanese long rates during the period were at the most negative on 10 year debts during the period
result and and GDP growth Q on Q fell , on annualised basis from 2% to 1.8% but beating consensus
amazingly the 3rd QTR was before the sales tax increase which has recently seen reported retail sales falling hard post implementation - this which means consumer were actually buying up ahead of the sales tax increase, and GDP growth on an annualised basis Still dropped from the previous QTR
Is there any wonder they are doing a big stimulus package and why their rates have shot back up to zero,,,,,ABE and the boys are expected to borrow and throw money around
great headlines today.
The other good headline - the cutta- MR LOWE of OZ reserve bank, somewhat surprised at the fall in consumer spending - but he says consumers have too much debt, but when they ay it down spending will resume.
Finally the brains trust at the RBA sees consumers with" too much debt",,,,,and they cut official rates 50% in 90 days ----- because? because? ……well basically, slash rates so people with too much debt can pay it down so they can then rack it up again and keep retailers moving goods.
