{"id":172,"date":"2013-08-02T14:44:58","date_gmt":"2013-08-02T14:44:58","guid":{"rendered":"http:\/\/www.pinert.com\/newsite\/?p=172"},"modified":"2013-08-02T14:47:05","modified_gmt":"2013-08-02T14:47:05","slug":"we-interrupt-our-regularly-scheduled-programming","status":"publish","type":"post","link":"http:\/\/www.pinert.com\/newsite\/?p=172","title":{"rendered":"We Interrupt Our Regularly Scheduled Programming"},"content":{"rendered":"<p>I was doing my morning reading prior to the release of NFP, and came across <a href=\"http:\/\/www.bloomberg.com\/news\/2013-08-01\/ex-soros-adviser-fujimaki-says-tax-delay-fed-may-pop-jgb-bubble.html\">this article<\/a> from Bloomberg. The article is about Takeshi Fujimaki. In addition to being a &#8220;former adviser&#8221; to George Soros, he won a seat in Japan&#8217;s upper house of parliament last month. He calls the JGB market a bubble which has been said before but the very last paragraph blew me away:<\/p>\n<p>\u201cIt\u2019s impossible to avoid a default at this point, but what\u2019s important is to create a system to avoid the same mistake and that\u2019s where I can contribute as a politician,\u201d Fujimaki said.<\/p>\n<p>By the way, I found the above paragraph even more staggering than the one before it. In the paragraph before, Fujimaki said that\u00a0\u201cThe yen\u2019s fundamentals suggest to me it should be around 180 to 200 per dollar.&#8221;<\/p>\n<p>Wow.\u00a0We have all read (and re-read) Kyle Bass on how Japan is about to implode (I&#8217;ll add that I am a fan of Bass). There is a massive difference, however, between a hedge fund manager suggesting JGB&#8217;s collapse and an elected politician (even if ex-hedge fund) comes out and tells the world that a JGB default is inevitable.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I was doing my morning reading prior to the release of NFP, and came across this article from Bloomberg. The article is about Takeshi Fujimaki. In addition to being a &#8220;former adviser&#8221; to George Soros, he won a seat in Japan&#8217;s upper house of parliament last month. He calls the JGB market a bubble which &hellip; <a href=\"http:\/\/www.pinert.com\/newsite\/?p=172\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,3],"tags":[],"class_list":["post-172","post","type-post","status-publish","format-standard","hentry","category-economics","category-macroinvesting"],"_links":{"self":[{"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=\/wp\/v2\/posts\/172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=172"}],"version-history":[{"count":3,"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=\/wp\/v2\/posts\/172\/revisions"}],"predecessor-version":[{"id":175,"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=\/wp\/v2\/posts\/172\/revisions\/175"}],"wp:attachment":[{"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=172"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.pinert.com\/newsite\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}