- Mauldin thinks Japan is a bug in search of a windshield and thinks 2013 is the year the bug finds the windshield.
- Believes Japan has kicked the can as far down the road as possible.
- New Japanese leader wants to take the limits off the amount of debt the country has and Mauldin believes this needs to be taken seriously.
- Mauldin thinks the yen is going to make a big reverse over the next decade, and he thinks that is a trade to start putting on.
- He thinks the yen weakening will be one of the great macro trades of his lifetime.
- Japan can’t allow interest rates to rise, so they have to weaken the currency.
- Thinks France is also going to be facing its own Armageddon, as it has been doing everything it possibly can in the wrong direction.
- Relative to France, Mauldin thinks Italy is a beacon of austerity.
- Investors just don’t get how bad a situation France has created for itself.
Listen to the audio here.