All this smacks of amateurism,

It smacks of cronyism,

Japan increasingly needs a weaker yen to counter falling foreign demand and increased competitive pressures.

While we have said all along that the foundation for the U.S. expansion is dodgy, as long as it is what it is, we expect to see the dollar and Treasury yields - and fed funds - move up.

No more turning away from the weak and the weary. No more turning away from the coldness inside. Just a world that we all must share. It's not enough just to stand and stare. Is it only a dream that there'll be no more turning away.

What we do know is somewhat reassuring, even if there are significant gaps in his international economic policy resume.