Japan

At the same time that Obama made history on May 27, when he became the first standing US president to visit Hiroshima, protests were taking place in Japan after a former marine working at a US military base in Okinawa was arrested by the Japanese police for allegedly killing a Japanese girl in April. Then overnight, an American sailor was arrested on suspicion of drunken driving and causing a crash on the Japanese island of Okinawa, in the midst of a month-long curfew placed on U.S. service members after the arrest of an American contractor on murder-related charges.

Authored by Scott Minerd, Global CIO, Guggenheim Investments,

The G7 countries’ finance ministers recently ended their two-day meeting in Sendai, Japan, without an agreement on any economic policy issues, including those surrounding the recent sharp appreciation of the yen. The unwillingness of policymakers to address Japan's fervent appeals for exchange rate intervention may inadvertently hasten the implementation of helicopter money by Japan and other industrialized nations.

Submitted by John Rubino via DollarCollapse.com,

The most widely-reported result of the recent G-7 meeting was Japan’s attempt to convince the other major economies to admit that a crisis is imminent and take appropriately radical steps. The response seems to have been a bunch of blank stares. As India’s Business Standard noted:

G7 pact offers minimal cover for Abenomics reset

It has not been a good "second coming" for Shinzo Abe, whose first stint as prime minister of Japan ended in disgrace in 2007 after an allegedly crippling bout of explosive diarrhea forced the then-prime minister to resign. To say that Abenomics has been a dismal failure would be an understatement:  unable to boost inflation, unable to boost wages, plummeting trade with both exports and imports crashing to post crisis lows...

Global Financial Crisis Coming – Japan Warns of “Lehman-Scale” Crisis At G7

Japanese Prime Minister Shinzo Abe warned his Group of Seven counterparts on Friday that the world may on the brink of a global financial crisis on the scale of Lehman Brothers.