Japan Intervenes In FX Markets... Again; Hilarity Ensues

Submitted by Tyler Durden on 08/23/2011 - 22:55 headlines Japan Yen Minutes ago we saw the following headlines flash, describing Japan's latest attempt to kill the Yen, following the earlier already failed attempt by Moody's which while probably being paid well for its downgrade of Japan, did not achieve its true purpose - to weaken the Yen:

• MOF: Will Require Banks To Report FX Trading Positions - a nice little appetized to FX capital controls...
• Fin Min Noda: Will Set Up Maximum $100B Facility To Deal With Yen Rise - yet another attempt at central planning of FX crosses
• MOF: Will Strengthen Monitoring Of Currency Markets - Noda will be watching... even more

What is highly entertaining, is that as Bloomberg's Michael McDonough, going forward we will need to measure the halflife of Japanese intervention not in days, not in hours, not even in minutes, but in actual ticks.

Rothschild Is Now In TBTF Plunge Protection Business

When some evil fund,
Is out there shorting you
Who you gonna call?
Why, Rothschild!

A (Hopefully Fake) Paul Krugman Laments The Lack Of Death And Destruction Following Today's Earthquake

We truly can only hope that this Google Plus account of Paul Krugman is merely a well-orchestrated parody, because if it is indeed that of the self-styled uber-Keynesian, the time for the public outrage, his economic beliefs aside, has arrived. In a blast post on Google's imitation of twitter and facebook, which should immediately result in the termination of the Nobel prize winning economist if it was indeed penned by him, this particular account of "Paul Krugman" writes: "People on twitter might be joking, but in all seriousness, we would see a bigger boost in spending and hence economic growth if the earthquake had done more damage." Translation...well it's pretty obvious, but for those laboring under the aftermath of a full frontal lobotomy, the person who tweeted this essentially yearns for his voodoo economic religion to be validated following countless failures of Keynesianism (no, really, after this latest injection of X^x *illion dollars into the economy things will really be well), at the expense of death and destruction. Even more poignant translation: "Krugman" would like nothing than to put an equal sign between the death of a human being and the proportional GDP replacement value. What next: Krugman lamenting that only certain races end up getting killed in conflict, those whose replacement potential is too low, demanding more death? Or that X number of deaths would have been more stimulative if it was really XXX? This is about as close as we will get to a Keynesian admitting that reparations for death and destruction are the only two special clauses under which fiscal stimulus does work. Which of course means that with idiots such as the poster of the above who actually thinks this, be it Krugman or some of his countless voodoo brethren, and with their proximity to the president, the only logical explanation is that a war is coming, and is being welcomed by all these s[h|c]am "economists", for whom human death and suffering is a fair tradeoff in preserving their tenure or modestly-paid, liberal publication blogging job. If this indeed Krugman's account, it is imperative that the NYT immediately terminate this pathologically deranged and homicidal psychopath. Institutionalization in a mentally insane ward may be a proper subsequent action.

The Truth Behind The FDIC's "Problem Bank Shrinking" Report

The number of insured banks declined from 7,574 to 7,513.  So the number of banks covered by the report declined.  And that makes sense since 22 failed and 39 were absorbed via mergers.  So the number of problem banks declined by 23, and 22 banks failed.  I assume once a bank fails it goes of the "problem" list since it is not covered by this report?  So at best, 1 bank moved off?





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