Submitted by Tyler Durden on 10/30/2012 07:31 -0400
China
CPI
fixed
Japan
Monetary Policy
Monetary Policy Statement
New Normal
Nomura
None
REITs
SocGen
United Kingdom
Yen
It was only yesterday that we pointed out the ever decreasing halflives of central bank interventions. We are grateful that none other than the biggest intervention basket case of all came out and proved us 100% correct, when the BOJ announced none other than QE 9 just one month after the impact from QE 8 fizzled about 8 hours after it was disclosed. This time around, the destructive "benefit" to the JPY was negative from the first second, resulting in the first instance of monetary easing that.. wasn't. Japan just came up with a brand new New Normal concept: tightening through easing, when its ¥11 trillion intervention proved to be woefully insufficient for a market addicted to ever more liquidity injections.
First, this is what QE 9 formally was (full statement here):
http://www.zerohedge.com/news/2012-10-30/when-%C2%A511-trillion-not-enough-japans-qe-9-disappoints-halflife-zero-time-qe10
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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