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21WIRE | Japan is way over-leveraged, and could very well see a repeat of its epic economic crash of the 1990s.

Modern Monetary Theory (MMT) has become popularized by some of the liberal-left because it offers an explanation how to achieve full employment, national health insurance, free college education, and the Green New Deal without raising taxes. Political leaders like Alexandria Ocasio-Cortez and Bernie Sanders have espoused MMT. Economist Stephanie Kelton, a leading spokesperson of the theory, served as chief economic adviser to Sanders during his 2016 presidential campaign.

The Bannonite wing of the new American right is angry about China. The anger stems primarily from the fact that China’s manufacturing has outpaced that of the US and economies similar to that of the US, which in turn has arguably been a cause of US industrial decline.
Steve Bannon recently gave a speech in the Chinese island of Hong Kong where he stated that while the US is at “economic war” with China, but that nevertheless he and Donald Trump admire China and President Xi Jinping in particular.

There are fears that the standoff between North Korea and the US could rattle Asian markets and derail Japan’s revitalized economy [Xinhua]
If Japanese Prime Minister Shinzo Abe is feeling smug about economic policy right now, he’s got the figures to back him up.
Second quarter GDP growth jumped a full 1.0 per cent in Q2 of the year to reach an annualized 4 per cent, a coup for his policies of raising value added taxes to boost income and stimulate the market.
The latest data beat forecasts of a gain of 0.6 per cent in Q2.

The currency wars are heating up.

The real motivation to go cashless is downright sinister.

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The IMF announced this week that the renminbi will now be considered a world reserve currency.
The post Chinese Currency Joins US Dollar As A World Reserve Currency appeared first on The Anti-Media.