Stocks are “soaring” today on news that the Bank of Japan cut its policy rate again from .10 (virtually zero) to 0 in another desperate effort to goose Japanese growth. If for 20 years you don't succeed….keep ramping up your government debt seems to be the play.
Meanwhile the US is signalling a similar path with ideas of Quantitative Easing 2 in the wings . QE 1 was ineffective in reviving the economy, so keep doing more of what hasn't worked, seems to be the plan.
Here is a good discussion of current themes with David Rosenberg on Bloomberg: US Economy may shrink in fourth quarter.
Cory’s Chart Corner
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