http://www.bloomberg.com/news/2011-06-13/strongbox-sales-soar-in-japan-as-demand-for-cash-risks-stunting-recovery.html
“It’s absolutely essential for Japan to get people to spend,” said Robert Feldman, head of Japan economic research at Morgan Stanley in Tokyo. “Weakness in consumer spending is one of the reasons for the economy contracting -- it’s crucial for the government and the Bank of Japan to work together properly to end deflation.”
“The country is in deflation so even if you leave money under the mattress, you are still earning,” said Morgan Stanley’s Feldman. “It’s a relatively attractive asset. You have to protect it but it’s not too hard.”
“It’s absolutely essential for Japan to get people to spend,” said Robert Feldman, head of Japan economic research at Morgan Stanley in Tokyo. “Weakness in consumer spending is one of the reasons for the economy contracting -- it’s crucial for the government and the Bank of Japan to work together properly to end deflation.”
“The country is in deflation so even if you leave money under the mattress, you are still earning,” said Morgan Stanley’s Feldman. “It’s a relatively attractive asset. You have to protect it but it’s not too hard.”
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