One New Year's Resolution Japan Badly Needs

In a week when we learn that Toyota plans to suspend production at all 12 of its Japanese plants for 11 days over the next couple of months, news which follows hot on the tails of last week's report that industrial output shrank at the fastest pace since at least 1953 in November (16.2% y-o-y), with December's Purchasing Manager Index survey - described in JPMorgan's Global Report as the weakest