In his latest investment note, analyst Russell Napier argues that Shinzo Abe is presently trying to persuade US and European leaders to agree to a co-ordinated boost in fiscal spending in order to bolster global growth at the G7 Ise-Shima summit which he will host later this month.
But, Napier predicts that Abe “will fail, and in that failure get the authority to launch Japan’s final roll of the reflationary dice – the direct financing of the state by the central bank – ‘helicopter money’.”
From the AFR: