Japan’s economic collapse just got worse with GDP collapsing by 2.9%. As the 3rd largest economy moves towards a recession, the global economy is now impacted with a collapsing demand as well. Here’s why the US and the global economy will be facing a big crisis in 2024.
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✅ Timestamps & Chapters:
0:00 A Big Economy Crashes
2:57 Global Demand Destruction
5:31 A Deadly Pivot
8:04 US Lag Effect Coming
10:59 Money Supply Collapse
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27 Comments
No, estimates of GDP actually fell by 0.7% over the latest quarter, which is 2.9% annualised. This followed growth in the previous 2 quarters. Hardly that bad a result in the current covid fallout.
Love the comment, hiding in a wooden house when the fire is all around you . . . creates a clear image . . .
The tragedy for the Japanese people is that their government had to buy more and more U.S. debts to please the master while their economy has been in decline since the days of Shinzo Abe with his Abenomics launched in 2012 to try to save the Japanese economy but to no avail. The whole things bring back the truthfulness of Kissinger's famous quote: "Being America's friend is fatal."
We should take Chinas number with a grain of salt as they are in dollar and is just percentage of growth y/y and with China selling more and more in Yuan, it will create more volatility in the numbers as it depends of the exchange rate, which is is quite high at the moment at ~7,2. Besides this is not 2008, when China did everything it could to help the west not go in recession. The West is actively sabotaging them now, so why would China help them? I think commentator miss the point, as China is not going to save the world from recession, forget about it. They may want to delay for a while so they can get most of their 800b in treasuries back, but they sure as hell want a recession. As long as they come back from it first, which I think they can, it's going to be fine for THEM. The time that we give a sh*t about how the west is doing is over, and Sean hasn't understood that yet.
The Japanese culture is very conservative. As long as their PPP is ok, they won't collapse.
On the other hand, ubiquitous zombie loans are very vulnerable to higher interest rates. Hard to face such failure in a conservative culture.
The rich worry about an official recession while the poor already feel like they are living in a recession.
We need a Trump presidency to put the final nail in the US coffin.
if you study weaponized trading, you will see what is going on, its known for years many countries bought up foreighn dollars while defacing their own. what i belive you will see is the countries that can suport themselves through past foreighn asset controls, or still have control of some of their own country assets control, will dump others dollars to able the suport their own bloated social systems. either way you know the dollar / and electronic currancy traders will be cashing in big, as you see banks close. and food prices sky rocket to the public.
I still think interest rates globally have to come down regardless of Japan. It is the only way to stimulate the economies of the world after a period of high interest rates. That's what the RBA will do in Australia for sure. Japan will have to wait it seems until 2025 before global demand picks up again so as per the GDP formula Japan needs to do a lot of government spending in 2024 (infrastructure projects) and perhaps finding a way to encourage foreign investment. GDP = I + G + C – X. So Japan should find smart ways to increase I and G if C and X are stagnant.
People need side gigs or 2nd job to pay the bills. Good employment data is deceptive.
Usd are garage
Do you think If Japan joined Brics they would be better off ?
You have to look at M2 together with velocity to get the total picture. Velocity ticked up a bit but will it continue to go up is questionable.
Japan is holding over $1.1 trillion in US debt/Treasuries while China has been selling their US debt & investing in gold. Is it a good move for Japan to sell theirs?
The Fed FRED reports show that net liquidity jumped in March and has accelerated again October to now. I suspect if there's a recession, the Fed will flood liquidity and sustain stocks. Interest rates are less important than liquidity.
since the 3 arrows were an abject failure,
maybe its time for 3 wet noodles
This is an absolute disaster for Japan.
215% debt to gdp ratio in japan. it would be the first mover in a global recession.
My expectation is for 2024 that markets starts to broaden out more,” what if the interest rates go up? i have a ton of questions….can I safely invest $220k? What should I do differently?
Exactly what the US wanted. This way, Japan will remain under America's control.
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Sean please do an episode about how US forced Japan to deliberately weaken their economy after WW2 cause Japan was growing stronger than US economically!! It would be interesting to see how and what was done at the time!
I think the US establishment is anticipating a Trump victory in 2024 and is setting up the economy to melt down when he comes into office.. This will effectively neuter his presidency day 1.
2023 knows how like share subscribe works; word of mouth has been around since language began.
US dollars will soon become toilet paper.. worthless.