Bill:
the history charts tell more interesting tales...
there's some other echo dates: one corresponding to the top of the nikkei (mid dec?) one in april... I don't have adequate raw data, or I'd try this...there should be "kahuna dates" corresponding to historic highs and lows in various global stock markets, bond markets, commodities, even real estate..where huge sums of money moved at once.
--softbank, yahoo, etrade, even msft and intel are japanese "investments". it is clear on intel balance sheet that yen-carry trade is done by intel..internet bubble is japanese bubble IMHO...waiting for something very large to happen so the money can go home.
The dow, on the other hand, is the fed proxy for the national debt... it represents "the economy"....it will always go up directly proportional to the amount of tax revenue the government needs to pay its bills...so the money will slosh through the various sectors as convenient, and companies will be added and deleted to make the numbers come out right.
devaluation of currencies is a smokescreen..the multinationals all hedge currency trades so "devaluations" reset local real property and salaries to convenient levels, hurts little guy and nonhedged businesses but not the transnationals, used as an "event" to move money with a convenient explanation. |
