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Global stock markets plunge - CNN
(www.cnn.com)
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Yeah, the yen is absurd. If the Bank of Japan did nothing, it would have resulted in massive anger among the Japanese people. For context, several years ago, the exchange rate was around 110. Then it went up and up, to around 160. Everything depending on imports rose in price (i.e., 50% up), but wages barely moved. That, my friends, is an unstable setup.