Abenomics producing the worst trade deficit ever!
It was the sequel of a relentless deterioration: As the January trade deficit had been the worst January ever, December had been the worst December ever, November the worst November ever, October the worst… an unbroken series of deterioration all the way through 2011. The madness of Abenomics in one crazy chart:
There are two areas where Abenomics, the democratically elected economic religion of Japan, has succeeded: creating inflation without causing wages to rise, thus whittling down real incomes; and devaluing the yen by 25%, thus wiping out a quarter of the magnificent wealth of the Japanese without telling them directly. Grudging admiration is due Prime Minister Shinzo Abe for these accomplishments.