currency debasement

With base comparisons out of the way moving past the calendar months of Japan’s tax change last year, the continuing recession re-emerges. Real wages fell 2.9% year-over-year in June despite “inflation” remaining far below (thankfully for the Japanese) Bank of Japan’s intentions. Contractual earnings nominally were slightly higher but “special cash earnings” fell 6.5% after rising 25% in May. That [...]