Hey folks. Put in your Xmas orders early for Cassandra's Special Edition BoJ Rubik's Cube, available for a limited time at only YEN 10,000!!. With the new BoJ Version you can impress your friends by showing-off the speed in which you solve the complex problem of The BoJ Cube, (which is almost as complex as the current monetary policy environment that the Japanese Central Bank faces). Be the hit of every party as your friends cannot help but observe the extreme degree of difficulty necessary to solve the multifaceted BoJ Special Edition Rubik's Cube, after which they will undoubtedly ask you whether you can teach them strategies that will, enable them to solve their own Rubik's-like monetary problems. The first 10 purchasers who act today will receive Cubes autographed by Gov. Fukui himself commemorating yet another "No Change in Monetary Policy" result from their meeting.
NB: Cassandra is also offering a "Carry-Traders Fat-Tailed Version" that randomly and periodically explodes leaving the wizened Solver blackened and ummm errr potentially insolvent.
I would love to hear them talk about the weakening dollar. Are they going to back to 0?
ReplyDeleteFor such important Prophecies, I recommend you consult The Delphic Sibyl. No one ever believed Cassandra anyway.
ReplyDeleteI reckon its business as usual for TeamJapan, for what its worth. No rhetoric is too embarassing for them at this point.
Fifty years ago economists would have rolled over laughing if you told them the entire world would be on a fiat based currency system backed by nothing. How can an eventual total lose of confidence not be avoided?
ReplyDeleteCassie:
ReplyDeleteI'll take the Unabomber version, er, I mean the Carry-Traders Fat-Tailed Version. Some were saying the BOJ might hike in Dec, while the Fed is on hold. But now fed funds are pricing in another 25bp Fed ease in December as a done deal. Meanwhile, the yen hits an 18-month high against the dollar. Looks to me the odds of a BOJ hike in Dec are rapidly receding. Did you see Ken Fisher's column in today's (Tues) FT on the inverse correlation between JPY and global equity markets? Let's hope Fukui didn't see it.
Peace,
Lumumba
The idea of no-change is very appealing to the Japanese.
ReplyDelete