the Japanese economy would literally fall off a cliff in Q1, plunging at a 3.7% rate (down from -3% previously), which is double the consensus print of -1.9%. DOUBLE. And in nominal terms the collapse was simply epic: -5.2%!The Real Effect
The implications for this are absolutely monstrous. With the Wall Street Journal more or less admitting an inherit depression (Predicted here in 2005 and the Fed's response in 2009), the Federal Reserve out of non-nuclear options, the clarion call for war comes more and more fiercely as Persia becomes a bigger and bigger target.
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