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Japan's Nikkei 225 Overtakes Dow For First Time In 3 Years
Following an 80% rise off October 2012 lows, Japan's Nikkei 225 nominal price just exceeded that of the Dow Jones Industrial Average for the first time since May 6th 2010. Though the Dow is around 8% above its 2007 all-time highs, the Nikkei remains 16% below its 2007 highs (and over 60% below its 1989 all-time highs). While the Dow is pushing its P/E towards 15x, the Nikkei just passed 28x - quite a 'valuation' difference. JGB futures - though not halted yet - are plunging notably (with JGB yields up 3-4bps). The last time the Nikkei was here a USD bought 95 JPY, now it buys 103... and 10Y Japanese government bonds yielded 1.29% against today's 86bps (compared to 10Y Treasuries 3.5% then and 1.96% now) ... In those three years the Fed has expanded its balance sheet by just over $1 trillion and the BoJ by about $400 billion equivalent.
and JGB Futures are plunging...
Charts: Bloomberg
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Destroy your currency and anything is possible.
Print unlimited amounts of money and nobody knows how high the Nikkei could go...just look at Zimbabwe.
Jim Rogers on Japan:
http://www.planbeconomics.com/2013/05/jim-rogers-on-japan-korea-and-shor...
Horry Cow!
For every action there is an unequal and non-opposite inaction.
First, they seldom even lock up their bikes. And now they gotta do this MOAR shit too.....
Your construction, smells of corruption
I manipulate, to recreate
This air to ground saga
Gotta launder my karma
I said Harrerujah, to the sixteen loyal fan-sa.....
http://www.youtube.com/watch?v=ZuwWvPGul3o
...get down on your mothafukin' knees
Stayin' alive. http://www.youtube.com/watch?v=I_izvAbhExY
Dow or Nikkei..
Whore with syph or whore with clap.. take your pick.
HKMEX ?
Hello
How could you miss this!
Spun this tune at my DJ gig this past Saturday night. The bassbeat KICKS! If it doesn't make you move, yer prolly dead...
Viva -- Sager
hmm...
The bust is going to be enormous. Keep stacking.
Bunch of phucin' ding dongs.
Would it be OK to buy Rockefeller Center this time around ?
Are they going to start steamrolling Hondas again?
Maybe we should start boycotting the Camry plant in Kentucky.
Patriots Untie!
Sorry...already been sold to Comcast. 7.5 billion I believe. Lot of harumphing over the price apparently as by "New York Standards" it was considered "too high." you know how making money in Manhattan real estate is all about the low ball offer. Anywho I do agree I think we can dispense with any talk of Samurai bonds now and forever. "we do these things because we need to" said Lincoln. All this bitchin' that the authorities seem to have got it right this time seems like sour grapes to me. again however "long everything" so take what I say knowing that. "if it has to be impossible then I know it must be true."
Is there a central banking digital currency printer on the playstation 3 that Kuroda is using. This all seems like some silly game until your reminded that these guys are serious.
Sustainable
"Sustainable"
http://vaticproject.blogspot.com/2013/05/alert-critical-information-insi...
Humans are stupid
nothing to do with individual humans.
the jap gov is buying
No but truly...I mean it's beyond comical now.
Take it away George:
http://youtu.be/ls8RXqyZDsk
"we gave it all up for that primitive sh*t"
Pitiful. Nice juicy war, proper stand up fight not chasing lunatic bandits in the middle east, will sort all this out. We are speeding in that direction anyways...
Is that peddle to the metal diplomacy sustainable?
It is - until it's not!
Apparently you can't criticize human intelligence. Humans are beyond criticism (especially if they are pious). A wonderful quote by Bertrand Russell sums it up nicely: "The problem with the world is that fools and fanatics are so sure of themselves and wise people so full of doubt". As our population lopes towards 9 billion (estimated) by 2050 and our ecosystem rapidly degrades, as biodiversity erodes drastically in a single human life time, as a vast number of the population still holds doggedly to bronze age beliefs, as potentially the world enters into a far less stable climatic conditions, to even utter the words "we are fucked" really is pissing into a hurricane. One has to qualify of course what fucked means. Only so far as the current form of civilisation do I mean fucked. I doubt through our own actions we'd wipe out our entire species. I simply mean the lives we have been so privileged to have led, in such oppulence and with such ease and amenity. Those days seem, to me, to be numbered. Some people might say, who cares, we'll adapt. Sure we might, but it's such a shame that in the process we'll fuck the place up even more than we already have. I'm looking at one entry in the ledger, it has 7 billion people on one side and 720 mountain gorillas on the other. It's a sad state of affairs, truly sad, when one silently wishes for a pandemic to try and balance things out, even only to give the remnants of once great species a fighting chance, because we are too fucking stupid and selfish to do it of our own volition.
For all those anti-abortionists out there give it a rest for the sake of the world. We have too many people as it is without bringing unwanted (and this is the critical point) humans into this world. And for all those christians who are so sure of the afterlife and their impending appointment with god, adopt some fucking kids instead of having your own. How will you explain yourselves when you reach the pearly gates and stand at the foot of the great beared one, having spawned four kids, consumed vastly more than a fair share of the earths resources and overlooked one of the most christian and altruistic acts a human could ever perform - take a child out of neglect, abuse and poverty.
Fucking stupid - understatement of the millenium. An incompatable and highly dangerous mix is our propensity to think locally but live globally.
Says a human.
How do you say 'holy glowing kamikaze green shoots, Batman!' in Japanese?
Seinaru kagayaku kamikaze midori no me, Battoman.
Or you could just say "Abe sukebe, doka shinde kudasai!"
Why isn't there an Article for the Hong Kong Exchange Setteling all Silver and Gold in paper now article? I know you did an article where they were buying from the swiss and london; but now they can't even get it from them. The END GAME is at hand folks.
Paper profits.
Go ahead regular folks, try and make some money off this, you will be taxed out the ASS.
Just like in the U.S.S.A., banks and financial markets are nothing but CASINO'S where the house always wins.
I wonder how many traders got stopped out on that violent 100pip smash down on usd/jpy?
Looks like we get to see a major economy go from 25 years of deflation to hyper-inflation in just a few short months.
Bernanke losing the printing wars. Tell me it ain't so.
"OK race fans... And there off. Rising Sun... printing like kamikaze's... moving up on the outside with... Lady Liberty feeling the distance and starting to fade. Can't count out Ol' Euro who may be heard from before this printing race is over...."
Defiant Hashimoto says U.S. troops abused women during occupation, sorry to digress (thread-jacking)
http://www.japantoday.com/category/politics/view/defiant-hashimoto-says-...
May 6, 2010.
Why is that date familiar?
Just. Can't. Make. This. Up. Anymore.......
Wow! You can't make this stuff up. Stranger than Science Fiction or Fantasy.
I've got to get off this planet!
Does anyone know if there are totalitarian governments, collectivism and central banks on Pluto?
I don't mind the lack of oxygen, toxic gases and sub-zero killing temperatures. Anything is better than this.
I'm a member of the middle class. I don't stand a chance. There is no where to run. These guys are planning on taking everything I have and making my money worthless.
Looks like the final puke (upwards) to me. Shorts dying and capitulating here. The market is obviously massively overheated in the short term, so some sort of pull-back is inevitable.
But there is a certain level of rationality to what is happening - albeit a purely technical one. Markets are simply 'melting up' in anticipation of further Yen weakenning (thus keeping the value of coporate Japan's market cap steady in USd or EUR terms).
If you debase your currency by 50%, the market has to go up by 100% to maintain value equilibrium in terms of the rest of the world's currencies. So in effect, this market surge could happen even if coporate Japan didn't benefit at all from a weaker Yen through the standard competitiveness effect.
http://nipponmarketblog.wordpress.com/
You just misdiagnosed the patient their doc. But it won't be your fault if he dies.
Zimbabwe stock exchange overtook every other stock exchange long ago :)
Somehow that coupon in my kitchen drawer for $0.50 off a can of beans just doesn’t seem relevant anymore.
That's an obvious error. You can eat beans - the Fed's balance sheet not so much ... ;-)