Yes they can, but what will they do?

Change is coming to Japan Or at least it’s very likely. The Financial Times has a poll projecting a landslide for Japan’s opposition Democratic Party. The DPJ is expected to win 321 of the Diet’s 480 seats. So a party that has never been in power is close to having an overwhelming majority. So what … Continue reading

Sayonara, Mr. Yen

Before China kept its currency artificially devalued, Japan was the biggest advocate of a weak currency. Eisuke Sakakibara, Japan’s vice minister of finance for iternational affairs, was such a staunch proponent of a weak currency that he earned the nickname Mr. Yen. Japan’s export led growth was predicated on a weak yen, so its interesting … Continue reading