"Landep News"
The Japanese central bank’s bells and whistles are going off signaling that decade long slumb – make that 15 year slump – that the country has been going through might finally be over.
There have been three consecutive months of rising prices – now why that is good, I am not sure. Something about inflation triggers salary increases triggers something – can anyone help me out?
In short – The Bank of Japan says the economy is improving steadily and the trend is strenthening.
Also, the BOJ will stop pouring cash into the banking system and start guiding interest rates (somebody else can tell me what good that will do, too).
What I do know is that the average Japanese household has $108,800 in the bank! That’s six figures. Compared to that they have about $55K in debt. (based on 117 yen/ 1 dollar).
Why don’t they just pay off the bills? Well, that’s another blog.
But, the Japanese do have money in the bank and if they have confidence that the economy will improve, they’ll start spending again.
What is $100,000 times 20 million households? More money than I can imagine.
And that’s what Japan will go shopping with.
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