caseyresearch.com / By Chuck Butler / January 28, 2013 1:55pm GMT
Illinois Falls To The Bottom.
Good day. And a Marvelous Monday to you! Well, the weekend went faster than a runaway train, as I was sick Friday night and Saturday, but rebounded yesterday, only to just hang out in my basement all day. I need a “do-over” for the weekend! I think if enough of you send emails to the Big Boss, Frank Trotter, he might agree to give me a “do-over”. – HAHAHAHHAHA! Please do not email him, I was just joshing around!
Well.. the currency rally that was going on Friday morning, has backed off the gas pedal, and dollars and yen are the currencies du-jour this morning. Those two currencies deserve each other! If they were old men, they could sit around and instead of comparing aches and pains, they could compare their respective large debts!
In Japan, ex-Economic Minister, Takenaka, was out doing his best to verbally weaken the yen, by saying he thought that yen had further room to fall, citing a figure of 95. He went on to say, “this correction has just started, it’s not fair to say the yen has depreciated too much.” So, the verbal assault on yen by Japanese leaders continues, folks. they had better stop and remember that you need to be careful with what you wish for!
It’s not just Japanese leaders that are verbally assaulting their respective currencies. Swiss leaders were doing the same this past weekend, saying that “Euphoria is misplaced, and more depreciation is needed”. Here’s what the Swiss leaders are looking at when they say that kind of stuff. the Swiss franc has lost 3.2% in value VS the euro this year. However, the franc is still 9.1% stronger than the 5-year average and 35% stronger than it was on October 2007. So, they want to get back the Good Times. They may want to contact J.J. Evans (Jimmy Walker) for some of his “dy-no-mite” talk, to get them going!