Japan has been rocked by accelerated deflation and a spike in unemployment.
Consumer prices fell 1.5% in April, which was faster than the 1.2% experienced in March.
Moreover, the unemployment rate hit 5.1%, the highest level since January according to the Associated Press.
Here’s the most telling fact of them all — exports surged 40% in April.
Japan’s economy is still dead, only kept on life support by surging international demand.
Its GDP is comprised of a rotting domestic core kept hidden by a shiny export shell, yet one which is rapidly being eroded thin by other Asian manufacturers moving up the value chain and towards Japan’s vaunted position for capital equipment and electronics.