05-27-2013, 10:58 PM
One could argue that in the case of the eurozone, shorters of peripheral bonds were still providing a "service," as they forced governments (and, more importantly, the ECB) to act and there were still avenues for action.
But in the case of Japan, there is nothing they can do that they're already doing. Yes, structural reforms will be good, but they have a pay-off that's slow, gradual, and years off, this won't help if Japanese public finances derail.
Even Kyle Bass good friend, John Mauldin, argues that they are backed into the mother of all corners..
But in the case of Japan, there is nothing they can do that they're already doing. Yes, structural reforms will be good, but they have a pay-off that's slow, gradual, and years off, this won't help if Japanese public finances derail.
Even Kyle Bass good friend, John Mauldin, argues that they are backed into the mother of all corners..