And now, a public service announcement from Cullen about the Japan shorts who have been temporarily bailed out of a losing thesis by Mother Nature…
I am amazed (and disgusted) at the number of commentators, pundits and “economists” who have come out in recent days to explain to the world how this human tragedy will result in a Japanese fiscal crisis. The people pushing this story are are the same ones that have been telling us America is bankrupt for the last 10 years and would have gone bankrupt 100 times over by shorting the Yen and JGB’s over the last 20 years. These pundits have been confounded for decades yet they never seem to lose credibility and never stop to consider why their thesis isn’t panning out.
Read the rest, what he’s saying is important and it’s high time someone set the record straight.