Companies not playing along with Abenomics
By James Saft
(Reuters) – Abenomics has a critical weakness: Japan’s companies are not playing along and it’s hard to blame them.
Japan’s economy, struggling to end decades of deflation and recession, grew at a disappointing 2.6 percent annualized clip in the second quarter, according to figures released on Monday, a full percentage point below forecasts and a marked slowing from the first three months of the year.
… Abenomics, a cocktail of fiscal and economics stimulus poured over a base of reforms, is intended, among other things, to drive down the value of the yen, which in turn should allow newly competitive companies to export more, hire more workers and contribute to a virtuous cycle of investment, consumption and growth.
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Sound familiar? However, Japan “grew at a disappointing 2.6 percent”. How’s our growth looking lately? Yet never a critical word aimed at the President by the SELLOUTS in our mainstream news media.