by Nick Hubble, Daily Reckoning.com.au:
Japan’s elderly now account for more shoplifting than its youth, reports Bloomberg. And Japan’s consumer prices year over year rose the most since 2008 according to another Bloomberg article. What a coincidence. Prime Minister Abe is doing something about the problem. He’s cutting welfare for the elderly next month. Good luck with that.
Japan is so worth watching because it has so many of the problems China and Europe will have soon. Poor demographics, enormous public debt and nincompoops in charge. How Japan goes, much of the world could go. Or it could heed the warning.
But enough of that half of the world and its woes. Let’s find something far more optimistic. Emerging markets look promising. ‘Developing economies now account for 50 percent of global output and 80 percent of economic expansion’ writes Reuters.‘…one McKinsey study projects more than half the world’s population will have joined the consuming classes by 2025, boosting consumption in emerging markets to $30 trillion a year.’
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