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Uh-oh! Part 6

June 13, 2013

NIKKEI 225 (^N225) 12,445.38 -843.94(6.35%)

Mr. Dow: Come on Nikkei, you are doing it again! Snap out of this or you are really going to bring this party down!

Mr. Nikkei: Listen Dow, I don’t think more drinks are helping me get over this hangover. I’m starting to feel really sick…

Mr. Dow: Oh Nikkei!!!! You didn’t just throw up all over my shoes again! Listen, you are becoming a real embarrassment. Pull yourself together, man! You have Ms. Europe over there watching you make a fool out of yourself and beginning to doubt that this party is real! Listen, you leave me no choice but to pretend that I don’t know you. In fact, I’m going to have to tell others you are an uninvited guest! Can you just leave quietly so the rest of us can enjoy ourselves?

Regardless, all this monetary manipulation will ultimately prove to be very caustic for good, sound fundamental economic growth. While a stock market gaining 70 percent in six months (Nikkei) may have a favorable “wealth effect” on some, I cannot interpret these developments as the signs of a healthy economy. We should watch Japan and learn. – The Economic Contrarian, May 13, 2013

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