Wisdom Of The Orient

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.

0405-usdjpy

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.

0404-nikkei

Since everything this bozo-san has been doing has been a complete failure, naturally, their solution is to consider more of the same:

  • BOJ LIKELY TO DEBATE POSSIBILITY OF EASING MONETARY POLICY AT APRIL 27-28 RATE REVIEW – SOURCES
  • IF BOJ WERE TO ACT, MORE LIKELY TO INCREASE ASSET BUYING THAN FURTHER CUT INTEREST RATES – SOURCES
  • WILL BE CLOSE CALL AT BOJ APRIL MEETING ON WHETHER TO EASE OR NOT – SOURCES

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.

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