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Japan Freefall Continues - Bank Stocks Hit Bear Market
The Nikkei 225 is down over 700 points from the post-FOMC minutes exuberance with major volume hitting the open in Japan.
Japanese stocks are now down 15% from their high and trading at six-month lows (and the cheapest to the Dow in 15 months). USDJPY is tumbling further (though the standard opening knee-jerk stop-run is being attempted).
Within the broader Topix index, Japanese bank stocks have just hit a bear market (down over 20% from their highs) at 10-months.
When asked how he felt about this, we suspect Abe said "depends."
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He said depends because he used to crap his pants and probably will again.
https://www.youtube.com/watch?v=UBztjzDr0fM
Has anyone called Kyle Bass yet?
Maybe Japan can borrow some money from China so they can have a war with them.
Should work miracles for the Japanese economy.
Japan is fucked, China is fucked, all Nation-States are fucked.
If anyone deserves to be golfing right now, it would be Kyle Bass.
How is Kyle going to help Abe with his incontinence problem?
Ya gotta ask yerself: "Is 72 enough?"
Yeah, we got it lol.
Love the diaper brand placement.
Soon not even BitCoin is going to help them. $350 !!!!
I step out for a few beers, I come back, Sebelius is gone and Japan is falling off a cliff. Can't you guys hold this shit together for even a few hours without me around?
+1 if it was Baltika or Tsingtao beer.
+1 for Tsingtao! Love that Chinese beer.
"Can't you guys hold this shit together for even a few hours without me around?"
Nope. You're the nail for our boards, the glue of our life, etc.
You also missed Hillary getting pistol-whipped by an ex-lovers stiletto.
And Sharpton was outed as a narc for the FBI, for over thirty years.
(Though very much under-reported, might affect his street cred...lol.)
No. Fucking. Way.
I guess that means we have now lived to see the day that the streets of Harlem are safe for Bill Clinton but a death trap for Al Sharpton.
Nah. He used his connections with the Italian mafia to feed info to the Feds.
so Tawana Brawley was made up just to try and entap some poor upstate NYS prosecutors. Never knew the federales could be so nasty & cruel
Kyle is either out inspecting the new vault for The university's collection of barbaric relics or trying to find a warehouse to hold all of his nickels.
Its not like we all don't wish we had his problems.
Wait. Isn't the exchange rate something like 102 Yen to the $US? So their market is in bear territory after only a $7 equivalent drop?
What am I missing here?
As others here are wondering - was Abe's comment a request for an adult diaper?
Someone needs to wake Yellen the fuck up.
You mean the world can't print it's way to prosperity Toto?
Yeah, she is more clueless than than the last two clowns. She may actually believe her BS.
HARAKIRI
I'm ready to see Jajan take a swan dive. When the yen drops faster than the Japaneses stock market rises it will no longer protect the wealth of those invested within its borders. Japan is the most indebted developed country in the world and its future prospects are dim and getting worse. It is only a matter of time before the yen becomes worthless and as inflation begins to take root Japanese bond yields will rocket up and raise the cost of government to service its massive debt.
It is time for reality to stop babying the markets. With the BOJ set to absorb half of the government bonds planned for sale this fiscal year, domestic investors have already started venturing overseas for higher yielding assets. If this turns in to a tsunami of money fleeing Japan it will constitute the end of the line for those holding both JGBs and the yen. More on this subject below,
http://brucewilds.blogspot.com/2013/08/japans-economy-going-forward.html
They are the poster child for monetary debasement and government debt. As such, they should be the first to blow and provide a blueprint for the rest to quickly follow.
I had to crack a smile at the "Depends" double entendre. Touché, Tylers.
For my part, however, I will refrain from making fun of the man's ulcerative colitis. I can't imagine how horrible it must be to have a disease that makes you crap blood every thirty minutes.
Ya gotta lay off the Wasabi! (and those little Japanese chili peppers!)
Do Japanese bankers jump?
I think today's the day, ratification of IMF reforms / demands, new $ announced, IQD revalued, markets crash, gold / silver soar, things appear to revert to some norm but that's just short lived as the realization of hyperinflation sets in.
Forget BTFD, buy anything physical that could have value.
Oh, there's always the chance of War, computer virus HEARTBLEED, or some such bs to deflect the issue.
My biggest fear if TSHTF is I'll hafta eat rice. And I fucken HATE rice!