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JPY Dumps And Nikkei Explodes As Japan's (32nd Month In A Row) Adjusted Trade Deficit Hits Record High
Just because we thought it worthwhile to keep track of how out of control things are getting in Japan, a quick summary of this evening's data. The Japanese trade balance (adjusted) shows a deficit for the 32nd month in a row and has surged to its largest (worst) level on record. It has missed expectations in 5 of the last 6 months. Imports rose more than expected again with a 10.2% MoM gain in imports from the US (and 35% YoY). This massive deficit is before the military spending unveiled last night has hit though one thing is certain, Goldman Sachs will be out with a report any second proclaiming the mythical J-curve about to arrive any moment... The reaction - JPY dumps and NKY explodes higher as bad news is good news in QQE land.
32nd and record monthly trade deficit...
as imports from the US explode...
The reaction
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Fucking bankster manipulators.
Every bankster and hedgie (their mothers, and even imbeciles like Gartman) are short JPY.
Can all of them at the same time unwind their short JPY trades without killing each other in the process?
Short JPY Train
http://online.wsj.com/media/072610pod04.jpg
For every "bankster" short the yen, there are a thousand japanese senior citizens long. While there is some support that might keep the yen from collapsing completely, the fact of the matter is that speculative long positions in yen, if you stop to think about what a "speculative long position" really is, are absurdly high. To call the short trade "crowded" when the yen is still above 2008 levels despite worsening fundamentals is absurd.
I hope not.
Guess that means no TAPER tomorrow and if there is... it doesn't matter. The yen carry is going to make all asset prices go to infinity.
My thought exactly. This will put upward pressure on the USD and that is the last thing the FED wants in a currency war (doesn't help the bosses on Wall Street).
Horray!
No one bought a damn thing and Japan is completely dependent on EVERYTHING!
I trust Govt numbers......
Bullish- for what, I have no clue, but definitely bullish....
Seems like not that long ago people were so worried about Japan buying up a lot of expensive real estate in the US.
Not only that, Bitcoin has entered its bi-annual post ramp 5 month lull.
Starving Student, "Will Work For BitCoin over the Winter semester.
Are the Japanese buying diapers from US manufactures or what?
Geiger counters, duct tape, and plastic.
pods
With no nukes, they have to power electricity with coal and petroleum products (not to be confused with oil). The US refines crude and sends the result to Japan because Japan refineries are saturated (they are importing almost 5 million bpd).
Always . . . always look at things from oil's perspective. If you look properly, all things will be explained by it.
"Are the Japanese buying diapers from US manufactures or what?"
Adult diapers.
Interesting that Japan went nuclear on printing money. Gotta be at least half of the country left to destroy from their last nuclear initiative. You gotta admire their spunk.
where is the 10yr JGB?
.656........and falling yield:))) It is a fucked World....and we all willsoon be playing!:)
102.6 to 102.9 is not an explosion, it's a piss in the wind
havent you heard? 5% growth of military over 5 years also an explosion (aka dis-implosion).
I think about ten percent of Japan's imports from US is food based, and they import more than half of their food from the world.
They're food sufficient in chicken, eggs, fish, and rice (uh, have been in the past).
I'd expect that they're also selling fewer autos worldwide (China for sure)
Electronics exports in the tank, and power generation in country 'curtailed' assumes more dollars needed for more energy imports.
Debt/GDP at 200. Cannot dump dollars. Inflation increasing.
Who bails them out?
The other 90% is ENERGY and Sex Toys!
No one can bail them out; they're simply too damn large. I think a further depreciation of the currency actually worsens their current account and balance of trade because they import all of their food and energy. They're basically fucked.
Last sentence basically sums it up folks.
Fucking yellow monkeys are picking up where Truman left off, and they are doing it to themselves this time.
Crack up boom?
oh jeez. Currency debasement leading to a worse trade deficit?! HEY JAPAN!! YOU'RE DOING IT WRONG!!!
The really laughable thing is that the USD/JPY chart isn't more vertical!