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Are We All Turning Japanese??


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A brief macro-drama update.  Some may recall the one hit wonder song by The Vapors "Turning Japanese".  If so, are we all turning Japanese with low inflation ahead outside of Venezuela and Argentina with their 1950s price controls model?  And why is the ECB so worried about deflation with their November rate cut?  I guess because inflation is at about 0.5% in Europe for the year and far short of the 2% target. 


If the ¥en goes to to 120, expect Asia to start exporting deflation in mass.


Draghi faces deflation threat as ECB, BOE meet




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