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More: Sinking Yen a "Byproduct, Not a Focus" of Trade Wars Says Japan; G-20 Takes Harder Line on Currencies
However, economists were wrong again as Japan fourth-quarter GDP shows economy still in recession Japan’s economy contracted for the third consecutive quarter in October-December, showing the country is struggling to escape from a mild recession and adding weight to the new government’s push for radical policy steps to revive growth.
See the article here: Reflections on Rand Paul’s Response to Obama’s State of the Union Address
In addition to stock market cheerleading and targets from Japan’s economy minister, Yen Weakens as Candidate for Bank of Japan Promotes Easing . Japanese stock futures rose and the yen weakened after Haruhiko Kuroda, a potential contender for Bank of Japan chief, said additional monetary easing can be justified this year.“If we do see a BOJ Governor of Kuroda’s calibre, the dollar-yen could well punch through 95 and would head to 100 very quickly,†said Evan Lucas, Melbourne-based market strategist at IG Markets Ltd., a provider of trading services.
Today the Financial Times posted news of a Radical rescue proposal for Cyprus A radical new option for the financial rescue of Cyprus would force losses on uninsured depositors in Cypriot banks, as well as investors in the country’s sovereign bonds, according to a confidential memorandum prepared ahead of Monday’s meeting of eurozone finance ministers. The proposal for a “bail-in†of investors and depositors, and drastic shrinking of the Cypriot banking sector, is one of three options put forward as alternatives to a full-scale bailout. The ministers are trying to agree a rescue plan by March, to follow the presidential elections in Cyprus later this month
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Thus one should not be surprised by this can-kicking idea: Republicans Propose Job Freeze to Avert Defense Cuts Republican members of the House and Senate Armed Services committees revived a proposal to avert automatic spending cuts by reducing the federal workforce through attrition and freezing congressional salaries. The legislation would save $85 billion through Sept
Read the original: McDonald’s Global Sales Slump 1.9 Percent; Price, Competition, Jobs to Blame