Japan

Tokyo Tidbit: Permit Required For Deadly Pitfall

Birthday surprise for her husband: a woman and five friends dug a deep hole on a beach in Ishikawa Prefecture, put mattresses at the bottom, covered the hole with a plastic sheet, and sprinkled sand on it. Her husband would fall in and everyone would have a grand old time. The outcome was tragic. And they didn’t even have the required permit.

Downgrades Don’t Matter

… if you can print money and are in control of the credit markets. Look at Japan. That doesn’t mean the underlying problems don’t matter.