The utter insanity and panic over the fact that the Japanese Carry Trade has died is obvious. Unlike last year, when everyone was so pious about how Japan was in this terrible depression while inflation raged in the streets of Tokyo, the G7 nations hammered China nonstop about raising the value of the yuan. But not a peep about the very weak yen which was dropping against all currencies except Zimbabwe! Well, now that the carry trade has violently unwound, the G7 is demanding it back! They need it for LIQUIDITY. Just as I stated several years ago! And I was right! Wow! Give me the Nobel Prize for Economics!
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October 27, 2008
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