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Comments from Hondo Etsuro – former economic adviser to Japan’s Prime Mminister Shinzo Abe –  are crossing the wires via Bloomberg that Abenomics will fail for real if the sales tax is raised now.  

Japan is scheduled to raise sales tax from 8% to 10% in October.  

Hondo believes the hike should be put on hold until the Bank of Japan’s 2% inflation objective is reached. It is worth noting that Hondo has convinced Abe to delay the tax hike twice before and is determinend to do so again.