Yeah but you can eat out in Tokyo for less than 5 euros.
PAR16:53:08 GMT - 11/14/2014
Room in Sheraton Tokyo. € 782 for one night . Thats expensive
Paris ib 16:50:36 GMT - 11/14/2014
Just checked Norway's corporate tax rate is 27% so that was a bit of bulls.hit information. Its private sector debt is up there with the best of them though. The Scandinavian private sector is labouring under a huge debt burden. Government debt in Norway is essentially zero, thanks to a well placed Iraqi emigre' - and they don't have the Euro or the EU - but I can't see myself moving to Norway ;-).
Artificially low interest rates have created a world awash in debt - just EVERYWHERE - so even a small shift higher in rateswill not be well received. Prepare for the fall out.
Paris ib 16:47:55 GMT - 11/14/2014
PAR - I'm not sure that is true. I know people who go there often. Costs are not high. Homelessness has risen. Wages have taken a beating. What I would like to know is: is deflation really still happening or are costs going up like everywhere else?
PAR16:43:59 GMT - 11/14/2014
After 25 years of deflation Tokyo is still one of the most expensive cities in the world .
Paris ib 16:38:30 GMT - 11/14/2014
Yeah and once the market manipulation of the bond market fails - as it will - and rates rise, how does that leave you? High government debt countries will resort to open confiscation I suppose - tax of some kind - high private debt countries will see an implosion in private sector demand. Is there any country out there without a mountain of debt of some kind? Anyone know of any? Norway maybe? I hear they have corporate tax rate in the 70s in Norway. I have done no verification on that whatsoever. ;-)
the "something bigger" is debt on banks and finoutfits books
bad debt that is.
simmering, growing, enduring...
Paris ib 16:32:00 GMT - 11/14/2014
I'd be interested to hear from Ginko if prices in Japan are actually falling or not. Japan was the deflationary poster child. Do they at least have low inflation over there?
Paris ib 16:29:47 GMT - 11/14/2014
Bond yields in the 2-5 year area in the States have moved steadily higher over the last 14 months or so but there has been no real panic. We all know the manipulators are at work, the question is when / if they lose control of the market, what happens then? And I believe that at some point they WILL lose control of the bond market. Which would be real ugly.
CS - I don't think the Euro is the whole story, it's just part of something bigger. Personally I am watching bond yields more closely than the Euro.
FW CS 16:22:34 GMT - 11/14/2014
such a place does not exist least none of the g20 countries. I agee with you -but anothet possibility is that big asian buy order could have been a big short covering profit taking. Euro still in recent range.
Paris ib 16:16:51 GMT - 11/14/2014
And I would really like to know from the forum is ANYONE living in a low inflation / falling price environment out there?
Paris ib 16:06:35 GMT - 11/14/2014
The Russians are moving away from holding currency reserves, as are the Chinese.... obviously the confidence in global paper money is not high.
PAR - this whole thing is so ex Soviet Union style denial of reality that it's scary.
We got these Central Bankers no longer content with setting overnight rates, attempting to manipulate the bond market... and all the mainstream media PUNDITS calling for more from the 'authorities'. The idea that the 'authorities' do MORE scares the bejesus out of me.
PAR10:26:09 GMT - 11/14/2014
Every person has his own personal inflation profile depending on his lifestyle .
The official figures ( hedonic adjustments) are just made up for policy purposes ( to keep rates on government debt down- financial repression) and no longer reflect reality .
"Well go buy something, whether at the grocery store, the drug store, the broom and mop store, and there is inflation everywhere. I have so many types of businesses so I buy everything from labor, to mops, to food, to shrimp, to stake and everything is more expensive. We are raising prices: that's why right now you pay more for an airline ticket, you pay more for a hotel room, you pay more for a pot of coffee. There is huge inflation going on right now." Tilman Fertitta
I think we all know this is true. It's true in Europe. It's true in Australia. I don't live in Japan or Asia so I couldn't tell you. I'd be interested to see if anyone out there has experienced the non-existant 'deflation' the Central Bankers and the MEDIA seem to be sooooo concerned about. From where I stand deflation is simply A LIE.
So what does this mean? It means the monetary policy is entirely divorced from inflation and probably from employment or even the real economy. Which brings back the idea that monetary policy is solely aimed at keeping the cost of rolling over existing government debt down (ie. manipulating bond yields) and possibly influencing the exchange rate (Japan take a bow). Central bank set rates are likely to remain lower than they ordinarily would but the power of the Central Banks to set rates is eroding. At some point we could see a disaster on government bond markets. And currency markets won't be far behind. The attempt to fool around with the price of real assets (Gold for example) is unlikely to dampen demand for the real thing regardless of where the price is (who believes prices any more anyhow?).
This attempt at manipulating financial market prices will only increase volatility and market instability in the long run.
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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