You can't make this stuff up.... One way or another Abe will completely ruin this country.
I found this "art" on the internet... Seems many of the locals are quite uneasy about this resurgence in nationalism, nukes, Taro Aso's comments about Nazis....
Abe Sanctions Government Funding To "Freeze" Fukushima With Giant Ice Wall
Ripped from the pages of Marvel Comics, Japanese Anime, or Game of Thrones; the latest cunning solution to what the Japanese admit is an ongoing emergency in Fukushima is, well, creative... Now that TEPCO has been shown to be inept, Abe and his government have sanctioned the funding of a 1.4km wall of ice to surround the building that holds Reactors 1 to 4. No this is not Pacific Rim; as Kyodo reports, chemical refrigerants will keep the underground wall frozen to stop the 400 tons of ground water being pumped into the reactors to cool them from leaking further into the sea water surrounding the catastrophe.
Excellent idea, eh? Things were fine a little while ago... We were even going to re-start the nuclear power plants. All was fine and dandy....
But, if it's not one thing, it's another....
Overnight Nikkei Crash Drags Risk Lower
While there was little macro news to report overnight, the most notable development was yet another USDJPY-driven crash in the Nikkei 225 which plunged by a whopping 576 points, or 4%, to 13825, while the Yen soared to under 96.80 in the longest series of gains since mid-June before recouping some of the losses on pre-US open program trading. The reason attributed for the move were reports that Japan would adhere to pledge to cut its deficit which is the last thing the market wanted to hear, as it realizes that boundless QE is only possible in a context of near-infinite deficit spending. The index, which has now become a volatility joke and woe to anyone whose "wealth effect" is linked to its stability, pushed not only China's Shanghai composite lower by 0.7% but led to losses across the board and as of this moment is seen dragging US equity futures lower for the third day in a row.
But, hey, ignore that line about the Nikkei becoming a volatility joke! I said basically that same thing two months ago in Japan's Pachinko-nomics - The Two "S-Moves" - Abenomics Roller-Coaster.
But all is well, right? What were those "Three arrows" of Abe's plan? Something to do with he economy, right? What were they? I forget.... The economy was one... Restarting the nuke plants was two.... Oh! And a a nationalist resurgence....
Excellent! Looks like we've got a winning hand, eh?
Tokyo, Manila beef up naval fleets amid China island rows
Japan and the Philippines have unveiled major new additions to their warship fleets, amid escalating tensions with China over territorial claims to disputed islands and waters. Tokyo showed off its biggest warship since the second world war at a ceremony in the port city of Yokohama yesterday, the 68th anniversary of the dropping of the atom bomb on Hiroshima. The 248-meter helicopter carrier will be a centerpiece of its naval power. The Japanese-built carrier can accommodate nine helicopters and is expected to play a big role in disaster and rescue missions, as well as defending sea lanes and Japanese territory. It is unclear when it will go into service.
And to prove to you that it's all crazy, even Testosterone Pit borrows my euphemism from two months ago (in Japan's Pachinko-nomics - The Two "S-Moves" - Abenomics Roller-Coaster) This from Testosetrone Pit:
Rough day again in Japanese stocks: Across Asia, stocks skidded, but in Japan they got hammered with a vengeance. The Nikkei plunged 576 points, or 4%, and closed at 13,825, the low for the day. It has been on an amazing rollercoaster, at first rising with stubborn persistence from last fall to late May, then crashing 22%, then recovering part of that, then swooning, then recovering, and now dropping again... often in daily increments of 2%, 3%, and like today 4%. It's insanity, not investing. It's hot money pouring in or bailing out whenever a hedge fund spreads a new rumor, or whatever. This is no way to get the Japanese to take their own stock market seriously again – as an investment and not as a glorified pachinko parlor.