larouchepac.com: A U.S. Economist Warns, Close the Yen Carry Trade Before It's Too Late

In a surprising editorial in the Japan Times, Thomas Palley of the U.S.-China Economic and Security Review Commission, calls on Japan to shut down the "dangerous" yen carry trade before it triggers "global contagion" upsetting the world financial markets. Most notably, Palley says it is this carry trade--and not the value of the Chinese yuan, which is triggering huge trade imbalances with the United States, and "generating worldwide asset inflation." Palley also says the carry trade has pressured other Asian countries to undervalue their currencies, costing jobs and growth elsewhere in the world.