A leste, algo de novo...

Mais uma vez, convém dar atenção à análise perspicaz de Paul van Eeden, que alerta para os efeitos da saudável retracção da oferta monetária japonesa:

"In addition to shutting down the yen carry trade, the Bank of Japan is also reducing the monetary base. Since January, Japan's monetary base has declined by almost 20% – that is a massive decline and, as far as I know, unprecedented in history. There is no doubt that Japan is serious about curtailing the expansion of its money supply. The combination of less money supply and rising interest rates will put a serious dampener on yen liquidity and, by extension, international liquidity since Japan has been a major source of liquidity during the past five years."

A gestão das falsas facilidades criadas pela inflação da oferta monetária vai ressentir-se. No Japão e globalmente. Para ler tudo, ver aqui.