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Pastimes : A Jackass, his PAL(indrome), and GOLD -- Ignore unavailable to you. Want to Upgrade?


To: pogbull who wrote (1119)4/3/2003 12:50:25 PM
From: Cactus Jack  Read Replies (2) | Respond to of 1210
 
Someone on that thread indicated that that post was written by Heinz Blasnik, who used to be a regular SI contributor and whose calls on market direction (macro), currencies and gold have been uncanny.

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To: pogbull who wrote (1119)4/3/2003 1:07:04 PM
From: Jim Willie CB  Read Replies (2) | Respond to of 1210
 
thanks, yes, very interesting
Kondratiev Winter seems to be taking Japan down
they have levitated for over ten years
they have clung to failed Keynesian and Monetarist shams
they have wasted untold billions of good money after bad
they even go farther than American waste, with pork barrel construction projects, like large wide roads to nowhere

Japan is living proof that failed economic systems dont get fixed
instead, they require even more desperate failed measures to shore up the untold trillions of blown wealth
Japan is now providing us a vivid glimpse into USA's future
except ours will be a terrible combination of Japan's widespread bankruptcy and Argentina's sudden imported devastation

March 31st is always a critical date for Japan
it ends their legally required Repatriation
now shit hits the fan

not only will the world see a sharp reduction in access to Japanese savings for credit lines, but Japan eventually will be forced to liquidate some of its $450 billion in USTBonds

I dont know when it will begin
I thought it would have begun last year sometime
they extend their economy's life longer than many experts imagined

but K-Winter has awesome awesome power, force, strength, and destructive potential
there is no way Japan will avoid K-Winter's wrath
K-Winter is best known for its ability to crush reckless debt
but in this case, we are talking about Japanese Banks coming clean
many are insolvent
K-Winter deals with corporate insolvency just as effectively as ireesponsibly managed debt
they are two sides of the same coin

beware of Japanese selling (even minorly) of USTBonds
we have higher rates coming sooner or later
despite the slow economy
it is about debt

the other surprise will be a rising JYen currency
with US surplus at 2.5% of their GDP, a strong capital flow will eventually cause the yen to rise versus the dollar
that spells horrendous consequences for their economy

I have thought for weeks that Nikkei dropping means JYen is about to rise
it might signal BOTH -- JYen rise, and some big banks die

/ jim