Pundits bet on yen collapse following Abe victory
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Tokyo
AN election sweep for Japanese Prime Minister Shinzo Abe this weekend looks like a safe bet, but some are betting that the consequences for Japan could be calamitous - a collapse in the yen and uncontrolled inflation.
The continuation of "Abenomics", a programme of money printing and debt-funded spending to lift Japan from two decades of deflation and stagnation, is, they say, not just failing, but heading for disaster. "The endgame of this could be an inflationary depression," said Arne Espe, vice-president of mutual fund portfolios at USAA in San Antonio, Texas.
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