Why can’t we have a stable currency or basket of stable currencies?
My wife is Japanese (since ‘94), and both the wife and daughters are ecstatic with the recent yen downturns — which I haven’t seen since the early 90s (and are far fletched of prior to that time).
While I understand the US treasury and Yen carry trade issues that is all Macroeconomics. Trust me - my wife and daughers have been ordering things recognizing the change in the Yen/Dollar exchange rate.
My extended family has seen no inflation in Japan - in fact I think it has been deflation hidden for years economically as most real estate has deflated in value (which one would expect - as a manufacturing guy stuff deteriorates over time)
So I think what we are seeing now is a potential capitulation against actual perceived value vs the dollar in Japan. Not saying either is right - just that the dollar is, IMHO, weaker than the world previously thought...and likely to continue the current trend based on my current experience.
it pioneered quantitative easing
What could go wrong?