Abenomics is failing. The world’s third largest economy is now in recession, yet again. The massive “printing” of yen has not helped as we (and many others) predicted it wouldn’t. The Japanese threw all in and now the country is staring at a stark winter.
Japan slipped into its fourth technical recession in five years between July and September – spotlighting how the government’s “Abenomics” policies have struggled to drag the economy out of chronic stagnation.
Official data on Monday showed the world’s third-largest economy shrank an annual 0.8 percent in July-September after a 0.7 percent contraction in the prior quarter, putting it firmly into recession – two consecutive quarters of declines.