Voyage without charts

"The US consumer confidence index: The decline unexpectedly, reflecting the prolonged employment anxiety
http://www.bloomberg.co.jp/apps/news?pid=90900001&sid=aczdCyuXlS4U
US consumer confidence index for December fell unexpectedly. Next year employment shortage was sounded anxiety to continue.
US consumer confidence index of the private sector in December Conference Board research organizations announced the 28th and 52.5, down from the previous month of 54.3 (preliminary 54.1). Bloomberg it was also lower than the most pessimistic figures of economists forecast that summarizes. The median of the forecast was a rise to 56.3. Percentage of respondents difficult to obtain a job has become high level for the first time in 10 months.
Standard Chartered Bank economist, David Siemens (New York Zaikin) pointed out that "for consumers was that again shown that the labor market is in the seeds of the greatest concern." He said, "This is a big concern for personal consumption." (Koryaku) "

"NY foreign exchange: The dollar fell against the commodity currencies - against the yen one o'clock 81.82 yen
http://www.bloomberg.co.jp/apps/news?pid=90900001&sid=a9ZQrF1ouq4c
In New York foreign exchange market, the US dollar Australian dollar and New Zealand dollar, fell against the Canadian dollar. Increased demand for the currency of resource-exporting country in the rise of commodity prices.
US dollar fell to a six-week lows against the yen. The United States of various economic statistics have showed weak economic growth than expected, the Federal Reserve Board (FRB) has spread is observed with continued low interest rate policy. Canadian dollar was wearing the first time since parity November 11 against the US dollar (equivalent). Swiss franc recorded the highest value against the dollar. Is concerned about the sovereign debt crisis in Europe, it is in the background of alternative currency of the euro has been demanded. (Koryaku) "

Currently the world's largest economic power, in the United States that would be economically hegemon on the facts, signs of balance sheet recession has come out here and there. Indeed, stock prices are pushed up by the QE2 by FRB (quantitative easing second edition), it does not have fallen to a full-fledged crisis, the employment of the essential requirements but it does not seem to give unsatisfactory good effect.

a result that the unemployment rate has continued to remain high, the American consumer (ie, the world's largest demand) is at not Fumidase to massive consumption expanded from uncertainty and debt repayment burden. Of course, rising stock prices should have a positive impact on consumer confidence in the United States, but the consumer confidence index is a translation has been low sluggish than expected.

Another rise in commodity prices, which has been worried about from the time the QE2 began, has become especially likely situation is the rise in oil prices apparently decisive.

[WTI (West Texas Intermediate) crude oil futures price index (Unit: $)]

Mitsuhashi Takaaki official blog "blog to a new century of Big Brother" Powered by Ameba

In the case of China, in which the demand for funds not Moriagara, was unreasonable that to 130 trillion yen new loans to banks, has caused the stock and real estate bubble.
The same in the case of the United States, in which the demand for funds not Moriagara, a result that was supplied Jabujabu liquidity to the financial markets in the QE2, it is not there while causing the stock price and the commodity bubble.

While domestic private spending and debt decreases, even financial authorities continue to provide liquidity, it does not necessarily contribute to its money properly borrowed in the real economy. That's why, and then you think that monetary policy and fiscal policy must go in conjunction technique, in the "Great Debate 5 hour special" above, basically was discussion is underway in the line.

That said, the case of the United States, because the Obama administration was defeated in the midterm elections, we have fallen into the impossible massive fiscal stimulus close situation. That's why, such as tax cuts extension or QE2, it is not not get to rely on relatively "criticism hard" policy.

However, QE2 is (although we are actually) When to trigger a commodity bubble and a weak dollar, inflation becomes a factor of cost push type, and then hit the American consumer. Employment than commodity prices rise in anxiety, the American consumer is loosening the purse strings will be increasingly difficult.

The world economy, in which the maximum demand (American consumption) and does not bulge, the financial crisis comes attacked in a chain (especially in Europe) that is not inevitably advance the unknown sea.