Japan fiscal and monetary irresponsibility and failure.
0724 GMT [Dow Jones] The most important takeaway from Japan Prime Minister Shinzo Abe's delaying a sales tax increase is not the fiscal impact--it's the failure of Abenomics to make the Japanese economy robust enough to withstand such a tax increase, says Japan Macro Advisors chief economist Takuji Okubo. "The tax hike would have done little to alleviate Japan's fiscal problem," he says. "The revenue from the hike would have been less than 1% of GDP--that pales against what is in fact required for Japan to stabilize its debt." He says that it's safe to say that Abenomics has failed. "The Abe government has not realized its initial goal of 2% growth and 2% inflation in two years. Nor do I think they will be able to achieve such goal in the next few years."([email protected])
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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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