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Shares close down more than 7%

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Long overdue. where is Abenomics now?

1 ( +4 / -3 )

Tokyo share prices plunged more than 7% Thursday on record volumes as investors rushed to take profit

Trading was volatile with volume at a record 7.66 billion shares among first section issues against 6.38 billion yesterday

The dollar was down against the yen in Asia, fetching 101.70 against 103.31 yen late Wednesday in New York.

The euro was at 130.41 yen from 132.58 yen and $1.2829 from $1.2855

Abenomics starts to come crashing down,

And just an added observation, the yield on JGBs hit 1% today and if it rises to about 1.5%, many believe that the Japanese government would not be able to service the existing national debt.

Of course there is Kuroda and the BOJ, but some are calculating that they are already buying 75% of government JGBs offered.

.

-1 ( +3 / -4 )

Abenomics starts to come crashing down,

sooner the better. Was it unexpected? ofcourse not., US had already expressed its concerns over Japan's unplanned BOLD monetary easing at G7/G20 summits.

-2 ( +2 / -4 )

some14someMay. 23, 2013 - 05:30PM JST

sooner the better. Was it unexpected? ofcourse not.

Well, this one is a practice run for the real thing in about November/December 2013.

-2 ( +1 / -3 )

US had already expressed its concerns over Japan's unplanned BOLD monetary easing at G7/G20 summits.

Implying USA are doing something really different.

1 ( +2 / -1 )

Long overdue. where is Abenomics now?

I guess you missed the part where the impetus for the stock market change was Chinese data.

3 ( +3 / -0 )

Also finally said something smart. "Stocks go up and down. It's not up to me to comment on the appropriateness of the workings of the market."(this is my own translation).

One cannot say yet with confidence that Abenomics will fail, but this brings into focus the high-risk, high-return nature of the bargain.

1 ( +2 / -1 )

it does not matter, whether the current monetary and fiscal reforms fail or succeed, without structural reform, the harvest this year may be ripe and plentiful, but down the road.. the sky darkens. We are, first and foremost human. Our world may be driven by computers and social structures, but in historical hindsight, human emotions are capricious.. as such, uncertainty will only create a world of perplexing fears... filled with cautious actions towards perpetual indemnity. That, has been this nations path, for decades now...

and the people who will suffer the most will be the working class, and the people who will reap the benefits will not be the working class.. but those in power, and influence, naturally acting in accordance to their own interests.. after all, politics, is all about maintaining the appearance of satisfying the constituency.. even if, that constituency is defined by asking a thousand individuals, through automated systems, their opinions.. and the media, heralds such opinions as, right.

5 ( +5 / -0 )

I think everyone is doing the wrong thing. Austerity in Europe is a failure. You can't fix the economy with tons of taxes. Politicians should cut their absurd income in the first place, but they don't do it, and God only knows how they waste our money. USA/UK/Japan are printing money like if they were peanuts, despite their massive debts, but you can't build a solid trend of growth on the debts, someday you will have to pay the bill, and it will be heavy. The emerging countries are still doing well enough, but they have their own iusses as well, like the huge income inequality. China should be a socialist country but it seems really the opposite to me.

3 ( +3 / -0 )

their own iusses*

issues, sorry for the typo.

0 ( +0 / -0 )

I think too many on the are quit to declare the end of abenomics. It's like most seem to be wishing for it... So who's up for another decade of stagnation...yeah! Great idea.........

0 ( +1 / -1 )

Spellcheck...can it be turned off? QUIT was meant to be QUICK...sorry

0 ( +0 / -0 )

The Yen is still too high at around 100. Depreciation of the Yen is necessary but the enterprises have to work smarter and harder to produce products/services that the world (not just Japan) will need (look at the Samsung products). The complicated economic system has to be trimmed for hgiher efficiency and effectiveness. The immigration policies have to be adjusted to deal with the aging society. Every person from the Prime Minister (who takes the correct move to depreciate the Yen) to an ordinary person on the streets has to work harder and smarter for reforming the economy. Learn from Iceland as to how to save its collapsed economy - http://www.youtube.com/watch?v=_idQjW4ZWak

-1 ( +0 / -1 )

Not a bad thought Wong, but almost impossible IMO. First, Japan's economy is #2, Iceland #117. Who would you throw in jail? The ones who created the bubbles are probably sitting on a beach in Hawaii by now. Lastly, the businesses are saying something different;

The survey found that roughly 50% of the companies prefer the Yen to stabilize around 100 Yen to the USD. Just 15% want a further Yen decline, and as much as 30% would like the Yen to strengthen back to 95 Yen to the USD.

http://nipponmarketblog.wordpress.com/2013/05/19/too-much-of-a-good-thing/

0 ( +0 / -0 )

CORRECTION Japan's economy is #3

1 ( +1 / -0 )

Corrections are inevitable. The stock market usually makes up the losses in few months or so. When the stock market is going up, investors want to get in on the potential profits.

1 ( +1 / -0 )

The ones who created the bubbles are probably sitting on a beach in Hawaii by now

You've got it. Some institutional investors are still playing with someone else's money. Sophisticated world class individual investors are alredy out of Japan, I would like to tell you.

0 ( +0 / -0 )

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