I never saw those before! So is that 1800 Japanese stocks or 1800 global stocks offset by the value of the Yen? So what the AIG chart is showing is that japan has had little to no price inflation over the last two years, eh? So while the US is getting hit by high commodity prices which is slowing growth the Japanese are happy as clams.
You know what really bothers me about it is this chart is that if it is pricing in the Yen then the Japanese demand is depreciating at a pretty quick clip. Think about it. Over the last few years , the Yen has been falling across the board against all currencies. That should make imports more expensive to the Japanese and they should be bank rolling on exports. That should grow the economy and push up wages and create more demand for resources. So why isn't that reflected in the index? My guess is that Japan is still feeling some deflation and the BOJ cannot print Yen fast enough to keep up with it. Population decline and slowing productivity probably attributes to the weakness in spending. I think the Japanese are still hoarding and not active consumers and that is adding some strength to the Yen that the BOJ is trying to shake off.
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