Japan really is lost in translation. I guess the only way to understand it well would be to spend five years here. Which I will probably never do. Still Nina and I love Japan – even what we don´t understand. Here are some pictures taken in Asakusa today.
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Posted on General | 11:11 am
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This is the year in which Europe will either fall apart or emerged stronger. I give it 75% that it emerges as a stronger union but the risk of collapse is still there. Germany has the key to solve the problem because of the size of its economy, its saving rate and its export volume. Germany has to decide on whether it continues to transfer some of its wealth in order to create markets for its exports or it let’s Europe fall apart and ends up with an overvalued currency and deteriorated markets. Already today it started paying negative interest rates which is a prelude in my view to a huge rise in the DM should it be born again. Tough choice. I think Germany can actually both save Europe and make money by buying underpriced Italian and Spanish bonds and selling them after stabilization. It can do what the FED did with many financial institutions, make a profit by providing much needed liquidity at a critical time.
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Posted by Jordi - July 20, 2009 7:49 pm - #
You can learn pretty well how to speak an Asian language in the West but I believe you cannot understand a word of an Asian culture without having lived there.