Good morning, all.
I have long prediction the USD/JPY would fall, and although it has taken a long time, it’s been making its way lower in grinding steps. This is pretty much the exactly opposite of what Japan’s limitless “easing” is doing, since it seems the market is sick to death of Kuroda and is reaching the conclusion that I reached a long time ago, which is that he’s a hapless, bureaucracy-bound imbecile.
Now, since Kuroda is nothing more than Yellen with a smaller dick, his mission is the same as hers (if you’ll permit me the use of the feminine personal possessive pronoun, whose accuracy understandably may be debated): to enrich the rich. That, likewise, is going less-than-swell. Here’s what the Nikkei has been doing lately.
Since everything this bozo-san has been doing has been a complete failure, naturally, their solution is to consider more of the same:
There will, of course, be occasional bouts of success (such as the brief period after negative interest rates were announced) but, in the years ahead, I suspect Japan will simply plunge into a financial hellhole, compelling our buddy Haruhiko to go seppuku on us.
