The Nikkei index rallied strongly overnight as the Abe Administration floated the idea of possibly cutting Japanese corporate taxes if the consumption tax increases is instituted. The ABE Government is fearful of negatively impacting the economy so continue to be alert to any “tapering of taxation” to keep the present economic growth story on its path. Tonight I am posting Tobias Harris’s post on the view of the consumption tax from Japanese sources. It is a rebuttal to my piece of last week. (more…)
Posts Tagged ‘Nieto’
Notes From Underground: The Japanese Look to Taper Taxes?
August 13, 2013Notes From Underground: Tomorrow Brings More Bernanke, But First A Word From Hilsenrath
July 16, 2013The financial world waits for Ben Bernanke’s testimony to the House Financial Services Committee. (The written speech will be made available at 7:30 a.m. CST, 90 minutes prior to the start of testimony.) This is a new policy so as to preempt any leakage by the notorious inside trading group that resides within the bowels of a non-regulated legislature. (Of course, high frequency trading groups will have it two seconds earlier. What are campaign contributions for?) The prepared text will be plain vanilla and any possible market moving news will come during the Q&A. It would be a great surprise if Chairman Bernanke reveals any new wrinkles on FED policy for another bout of veering from the FOMC minutes would begin to undermine the FED‘s credibility.
Notes From Underground: Has The FAT LADY BEGUN TO SING OR WAS THIS THE QUEEN’S ARIA?
July 2, 2012The loser in Brussels was … FRANCE. The markets were giddy as they drank deep from the KOOL AID spring of separating BANK AND SOVEREIGN SOLVENCY … did this really occur? It is far too early to tell. For all the “PUNDITS” it seems that Chancellor Merkel has capitulated to the needs of Spain and Italy as France cheered on the brinkmanship of Mario Monti. The French, led by President Hollande, has now ended the 50-year-old policy of Gaullism as France will no longer be deemed a responsible partner for Germany as being the mainstay of Europe.