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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Real Man who wrote (12163)4/19/2004 1:26:39 PM
From: Jim Willie CB  Read Replies (2) of 110194
 
taken from something being put together today
/ jim

The BOJ will be forced to choose, a “Sophie’s Choice” if you will. In the stirring movie, the mother Sophie was forced to choose which of her two children would face death camp execution in Poland in WW2. The BOJ must not block the green light for continued massive foreign purchase of Nikkei equities, which serves to confirm the final steps in bank system cleanup. A single week in early March registered a record weekly net purchase of ¥968 billion, roughly 10% of Japan’s national annual trade surplus in a single week. The trend shows an increase of over half a billion yen per month. A rapid reversal of foreign capital flight would undermine the economic recovery in Japan, which has far more genuine earmarks than our adrenaline-based recovery in the United States. Theirs is built upon the real economy; ours is built upon the financial speculative cancer which erodes the American real economy. At risk in the difficult choice are Japanese exporters, who will be forced to stand tall in a harsher exchange rate environment. They might find new customers in their own land of the rising sun, where $12 trillion in savings is stored. They might find new markets up north, across the sea in China. The Japanese face a struggle. As their currency rises further, yet another deflationary factor must be dealt with. Export income will drop, but import costs will fall.
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