The Economist (May 4)
“It is easy for investors to lose a fortune in the financial markets—and even easier for governments.” When Japan tried to prop up the yen in 2022, the nation “spent more than $60bn of its foreign-exchange reserves,” but supporting a currency “is expensive and futile.” Since breaking the ¥160/$1 barrier, there are rumors of another intervention. As long as the giant interest rate gap exists with the U.S., Japan would be “wrong to try to prop up the yen.”
Tags: $60bn, ¥160/$1, 2022, Currency, Expensive, Financial markets, Forex, Futile, Governments, Interest rate, Intervention, Investors, Japan, Reserves, Yen
The Economist (February 24)
“It is futile to speculate how much Russia’s efforts succeeded in altering the outcomes of votes and poisoning politics. The answer is unknowable. But the conspiracies are wrong in themselves and their extent raises worries about the vulnerabilities of Western democracies. If the West is going to protect itself against Russia and other attackers, it needs to treat Mr Mueller’s indictments as a rallying cry.”
Tags: Attackers, Conspiracies, Democracies, Futile, Mueller, Politics, Russia, Speculate, Votes, Vulnerabilities
