Heads (Of State) Are Gonna Roll?

This week’s Market Update is posted at Alpha Baskets and includes the following;

Continuing the thought on Japan is the curious action of the yen. As soon as the Bank of Japan set out to devalue its currency the yen immediately rocketed higher as the dollar has lost 9% in the last two months. Barron’s Up & Down Wall Street column was devoted to trying to sort this out, offering several possible explanations from several experts but with no real conclusions. Throwing our hat in the ring, we explored the notion of heavy handed central banks here before and the extent to which things often do not go as planned. The FOMC policy of the last eight years as well as the various asset purchases have delivered far less than what was expected in terms of growth and economic activity but yet heavy handed central bank policy won’t be going away anytime soon.

Please click through to read the entire update.

We have a new neighbor in Walker and he owns a Pinzgauer;

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