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Japanese GDP shrank last quarter as diminishing export levels and domestic inflation weighed on the world's second largest economy like an anchor in the arms of a swimmer treading water. This chart says it all – an economic moonshot stretching from the end of the occupation into the 80’s followed by decades of stagnation resulting from weak political leadership and easy money.

Andrew Barber, Director

*Full Disclosure: Keith remains short Japan via the EWJ etf.