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The problem isn't the yen carry trade, it's the Bank of Japan's portfolio
David P. Goldman points out that the recent volatility in the Japanese market is a sign of underlying problems. The Bank of Japan's decision to back off tapering has halted the immediate sell-off, but the underlying risks to domestic and global markets remain significant.
Germany's political paralysis perpetuates economic decline
Diego Fasnacht writes that Germany is facing rapid economic decline, with state elections in East Germany on September 1 expected to be a referendum on the ruling “traffic light” coalition amid rising energy costs and incoherent policies that are causing industrial decline.
Peace vanishes with the invasion of Kursk
James Davis details how the conflict between Russia and Ukraine escalated significantly after Ukrainian forces launched an incursion into Russia's Kursk region, marking a major intelligence failure for Russia as Kiev seeks to extend and divert Russian military influence.
Prime Minister Kishida to resign
Scott Foster examines Prime Minister Kishida Fumio's decision not to seek re-election as leader of the ruling Liberal Democratic Party (LDP) amid declining public approval ratings and a financial scandal, and the presence of several candidates to succeed him.
