the time for triage has passed. the patient needs a lobotomy. the japanese are blessing future generations with denial. nikkei 40,000 1980's and 20,000 2017 courtesy of financial sector denial. the government is the largest etf equity investor and the the only trader of government bond. not that past is prologue. resolution trust of the us savings and loan experience of the same period is the template. the non performers are housed in a "bad bank", assets are marked down to where private capital is interested, take the pain today especially with equity asset prices (markets appetite for risk) at all time highs and oil prices under 50. better to make the decision now than wait for equity asset prices to decline and oil prices to increase (Indian imports capital to pay the oil bill on a macro level and whatever the fx reserve headline number the net claims number is negative)
tora, tora, tora
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