Posted on 06/05/2013 5:44:21 AM PDT by blam
JAPAN PLUNGES AGAIN
Joe Weisenthal
Jun. 5, 2013, 4:04 AM
It just keeps getting worse in Japan.
After a brief respite, the Nikkei has plunged again.
After being up earlier in the day, the market fell nearly 4% in late going.
Screen Shot 2013 06 05 at 4.02.05 AM. Nikkei.com
This comes after new PM Shinzo Abe revealed a new "Third Arrow" of Abenomics, which focuses on increasing wages.
There was evidently some frustration that more wasn't done.
(Excerpt) Read more at businessinsider.com ...
My frustration is just the reverse. Their government has for two decades done too much. If they tried the "Empty Quiver" strategy of saying they would not interfere with the free market, business and industry could finally recover. Yet another government "Arrow" will simply extend the pain.
“Abenomics” seems a lot like “Obamanomics” to me — with the same disastrous results.
Basically you are right. This is where we are headed if we keep bailing out everyone and everything that goes bankrupt. Sometimes banks and real estate developers fail, and that sucks, but the herd is healthier afterward.
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