Japan of the United States economy

It has the yen followed against the dollar, but this is caused by an uncertainty of course the United States economy. That said uncertainty, Toka dollar will collapse, Toka US Treasury to default, such is not a catastrophe story, simply it is not the United States is worried about whether not to deflationary recession of. In short, it is "Japan" of the American economy.

"US bonds (the 6th): 2-year bonds 0.5% cracking - easing in employment decreased
http://www.bloomberg.co.jp/apps/news?pid=90900001&sid=an6bnQOrwPUs
US Treasury rate rise. 2 year yields for the first time less than 0.5%. The background is the decline of the employer exceeds the economists forecast in July in the US employment statistics. (Snip)
According to BG Cantor Market Data, New York time 16:04 current 10-year bond yield is the day before ratio of 8 basis points (bp, 1bp = 0.01%) 2.82% of the decline. The same year bond price (coupon rate of 3.5%, in May 2020 redemption) 105 by raising 22/32 23/32.
2-year notes yield 0.51 percent, down 3bp, in the week lowered 5bp. The day we recorded a temporary 0.4977 percent and a record low. (Koryaku) "

By the way, US Treasury (ten year) but there are momentarily that it was with a 2.0x% stand on December 08, and at that time, immediately after the Lehman shock, run about trying to escape money of the world is the United States Treasury (or Japan It was a time that was rushed to government bonds). As a result, it is not the interest rate of US Treasury bonds went up to the verge of interrupting the 2%, but this time is different a little situation.

The results last time of "panic buying", whereas was lowered government bond interest rates, this time a result that reflects the fundamentals of the US economy, long-term interest rates have fallen. Currently 2.82% So, (for the first time ever) and Maybe in this year the United States long-term interest rates and might I might be looking at the scene to rush to the 1% level.

Speaking of why the United States of fundamentals is getting worse, because of course the country's private consumption is "the world's largest demand" not wielded.

[Financial liabilities transition of American households (Unit: one billion US dollars) in 2003 - 2010 Q1]
http://members3.jcom.home.ne.jp/takaaki.mitsuhashi/data_29.html#USdept

After all, debt of American households, housing loans, of course, continues to reduce in total. The amount of money, American households without turning to flow the money (GDP), there mean that I had a savings (deposits and repayment).

'07 To the economic expansion period, the American household is a translation had continued to increase the debt by about 1 trillion Dorupesu every year. By that amount, the United States of flow (such as personal consumption and housing investment) is I have continued to expand.
This flow becomes plateau, because I mean had started to reverse, the effect does not have enormous and only called so.

In addition, the unemployment rate is also 9.5 percent more than you have remained high at a level that, aspects of American households begin to increase the debt and spending, it will not come so easily.

"July US non-farm employment 130,000 people, down, pushed down government sector - private 70,000 increase
http://www.bloomberg.co.jp/apps/news?pid=90900001&sid=aUdmPlmi9YAU
Of July US employment statistics reduced more than expected number of employees in non-agricultural sector is sounded and dismissal due to the completion of the census. Private sector employers also growth is lower than the market expected. (Snip)
Unemployment rate of July, which is based on the household survey is 9.5 percent, unchanged from the previous month. Number of workers, which is based on the survey (including the self-employed) decreased 159,000 people. To give up looking for jobs against the background of the deterioration in the job market, for workers to leave the labor market has increased, unemployment rate remained flat.
After this statistics announcement, stock prices fell, sensitive two-year bond yields to changes in the policy rate was lowered the lowest in the past. Economic recovery is stagnating, FRB's observations background of to consider additional stimulus measures. (Snip)
The underemployment rate, including the people who gave up looking for workers and jobs have been forced to part-time work in economic deterioration in 16.5% in July, is not the same as the previous month. (Koryaku) "

From the deterioration of the employment environment, and give up the job, as a result of workers who left the labor market has increased, although the number of employees was reduced, the unemployment rate remained unchanged. Moreover, the unemployment rate itself is also a high level of 9.5%. American employment is becoming celebrated the really tough situation.

It is not a day of Spain, but the "improvement in the employment environment," "fiscal consolidation" is a trade-off concept. Since the government will not be able to order a "hire the people!" To the private sector, if you want to improve the employment environment in earnest, there is no choice but to fiscal stimulus. The more fiscal stimulus, of course, finance is not directed to the soundness and the true opposite direction.

The United States, enough to force a "fiscal austerity in the deflation of" Hashimoto regime beams of '97, I want to believe that it is not stupid. However, the deterioration of recent American fundamentals, because the economic measures the end of the government has been greatly affected, not help but remember a shade of anxiety.

Is if the unemployment rate if the original (relatively low), long-term interest rates in the world the lowest, financing of government what the most comfortable "one country" is, to create demand in the country on their own power, in the world economy contribution "must" This is why I think it's aspects. However but, in the mass media of the country, there is not still "export! Export! External demand! External demand!" Not unending, etc. and to say that fellow, would pondering again deeply about the thing called "information power".