Japan —- Reuters Really, Really Wants QE To Work!

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Heh, I got a kick out of this.  Great news!!!  Consumer spending is up in Japan!!!  This is how Reuters framed this…..

TOKYO (Reuters) – Japan’s household spending surged in March at the fastest pace in nine years in a sign that Prime Minister Shinzo Abe’s bold efforts to end two decades of stagnation are lifting consumer confidence and setting the stage for an economic revival.

A recent run of data has provided encouraging early hope that Abe’s push for aggressive fiscal and monetary policies to get the world’s third-largest economy motoring is having the desired effect.

Now, increased consumer spending is, indeed, usually a good sign.  However, like nearly all things in economics, it’s a double edged sword.  Consumer confidence is a good thing, but, you want some reality to accompany the increased confidence. 

While Japan’s industrial production rose less than expected in March due to tepid demand overseas…

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