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Catastrophic results for Japan and the US credit crunch gets much worse.

Eurodollar University

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The Decline of Japanese Household Spending

The statistics of Japanese put out recently were on household spending and in particular, household income. In May alone since December, nominal disposable personal income in Japan is down eight percent nominal, eight percent reduction in incomes. So as the Japanese economy is supposed to be heating up and continue its inflationary trend, income suggests it's doing the exact opposite. Like China's reopening, Japan's economy is further and further falling apart.

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