From Bianco Research, comes this chart of the Bank of Japan Current Account Balances; This is consistent with our prior discussion that QE3 is already here . . .
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Bianco Research
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Previously:
Is QE3 Already Here? (March 30th, 2011)
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Money is power, & you ought to be reasonably ambitious to have it." —Russell H. Conwell, Temple Univ, 1877
"It's the end of the world as we know it and I feel fine" say the French as consumer confidence in May rose to the highest since Nov '10 as they welcome and get excited about new Pres Hollande. Also, the French 10 yr bond yield touched the lowest on record this morning. June consumer confidence in Germany held at 5.7, just .2 pts off the highest since Mar '11. To the euro bond debate which is now taking on greater rhetoric with those with high bond yields wanting them and those with low ones saying no way, ECB member...
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April 4th, 2011 at 12:02 pm
It seems to me, the question of who will buy a $trillion/year of US debt after QE2 ends remains open as Japanese QE3 will likely be spent domestically on reconstruction.
April 4th, 2011 at 12:16 pm
nice chart
unlike the US
japan QE already approaching size of the first one, may exceed it before done,
but both will be done by 2H 2011?
in any case they have a lot of useful things to buy with the fiscal boost alternative.
At some point excess liquidity boosts to markets in US and Japan will go away…
April 4th, 2011 at 1:44 pm
If this doesn’t make the YCS move, nuthin will :)
April 4th, 2011 at 4:23 pm
So, since there has repeatedly been made the claim of some straightforward causality between liquidity injection into the system during Quantitative Easing and stock market behavior (“Don’t fight the Fed!”), where is the correlation between Japanese QE and the Japanese stock market? I don’t see it.
April 4th, 2011 at 10:16 pm
I’m with Tony61 over on the old thread – I don’t get it either – those sorta look like massive tsunamis of cash on that graph bouncing back & forth off the shores.
For much of my life I’ve been buying audio visual gear with a Made in Japan seal. Hasselblad & Leica was out of reach financially. I can’t think of a stereo off the top of my head with a European brand name. Video gear went Japanese for me too.
Is it patent rights for clones? Paying for loosing the war & rebuilding?
April 5th, 2011 at 3:12 am
[...] – QE3: Bank of Japan current account balances. [...]
April 7th, 2011 at 4:54 am
[...] might signify the evolution of what some have already dubbed ‘QE3, Japanese-style’ into something more limited but focused on disaster relief and [...]