It’s official: Japan is in stagflation. For the first time since the 1970’s. Japan’s biggest companies just capitulated to the biggest wage hikes in 40 years — 12% in some cases. This sent the Bank of Japan into a panic, and could finally end decades of cheap money. With Japan’s economy already in recession, higher rates could set off a global financial crisis in one of the world’s most indebted economies.
It’s official: Japan is in stagflation. For the first time since the 1970’s.
Japan’s biggest companies just capitulated to the biggest wage hikes in 40 years — 12% in some cases.
This sent the Bank of Japan into a panic, and could finally end decades of cheap money.
With… pic.twitter.com/pCUlE10wq6
— Peter St Onge, Ph.D. (@profstonge) March 18, 2024
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