Excerpts from Edwards’ report via ValueWalk:
There is a large body of highly respected commentators who dismiss the notion that Japan is bust. My friend, former colleague and Japan guru, Peter Tasker is certainly one of them. In a recent FT article Tasker highlighted Japan’s “structural excess of savings and net overseas financial assets equivalent to more than 50% of GDP” – link. He is worried though that the rise in the consumption tax is a policy error because the economy is simply not strong enough at this stage to shrug off such a fiscal hit equivalent to 1.7% of GDP.