http://online.wsj.com/article/SB10001424052748703779704576074661995527474.html
Don't get me wrong. I ADMIRE the Japanese for MANY reasons. I lived there. And I have a deep affinity for the people and culture.
BUT as Clint Eastwood in the final scene of the movie Magnum Force, says: "A man's got to know his limitations" before walking away.
Well, the Japanese Finance Minister Yoshihiko Noda should have done the same. He should have kept his mouth shut and walked away.
Instead - now they are committed to buying a bunch of Triple-A rated Junk securities from Europe.
I mean, how much is the rating worth when we know most of Europe is bankrupt? Really!?
And that's not even mentioning the exchange loss they are likely to see.
Because if my prediction is even anywhere close to the mark (See Predictions for 2011.), and the Euro is fetching something near 1 dollar at the end of the year...
The Japanese will take at least a 25% haircut... Great Job Guys!
It's this lack of grand, strategic ability and the lack of balls to stand on the world stage is the reason the Japanese never became a world power.
China on the other hand has the balls, the brains, the brawn and the sheer will and do-anything mentality.
They are rapidly pushing their way to the front of the world power pack....
Not so the Japanese. They should stick to making cars and electronics... Stuff they're good at.
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