Japans ecomomy has been crunched into submission. Despite goverment stimulus, causing slight rises in exports and industrial output, Japans economy is a good bellwether (problems) for export reliant Asia. China will barely drag other Asia economies along.
from: DailyFX
"Japan's June Unemployment Rate jumped to its highest level in six years by 0.2 percentage points to 5.4%. Expectations had called for a slightly more optimistic jobless picture - an increase in the rate of unemployed to only 5.3%. Along with this came a shrinking Job-to-Applicant ratio, which fell to its lowest level since data for the metric began being recorded. Not surprisingly, the rate at which the labor force that sought jobs this month continued to decline."
Recent stock rallies are short term rallies, anyone holding long positions (say into late 2009 and 2010) are insane.
No comments:
Post a Comment