Japanâs producer prices fell at a record pace in July as oil traded lower than last year and companies required fewer materials amid a recession. The costs companies pay for energy and unfinished goods declined 8.5 percent from a year earlier after sliding a revised 6.7 percent in June, the Bank of Japan said today in Tokyo. The median estimate of 24 economists surveyed by Bloomberg News was for an 8.7 percent drop. http://www.bloomberg.com/apps/news?pid=20601068&sid=a4PRZuBgn0dE
Thanks for this post. Records are being smashed every day, every week and every month; records that augment my hypothesis that we've breached or are approaching Great Depression II. The evidence doesn't lay in one data point. The evidence is in the cumulative data.
Wait, I'm confused. The median guess of 24 unnamed self-appointed "experts," whoever they are and picked by whoever else, assuming they exist at all, was 8.7. So that means this is good news? When some guy guesses something, it means bad news can become good news, right?