Here’s a charming news story:
Higher yen could help U.S. companies exposed to Japan
U.S. companies with big sales in Japan like Aflac and Tiffany may see sales pinched in the wake of the country’s massive earthquake, but the yen’s recent sudden strength could offset those losses.
Yes. Never mind the Japanese companies that got literally flattened by the disaster, and how an unnaturally strong yen could devastate an already trashed Japanese economy. No, we have to think about those U.S. companies that might lose a few percent of sales in Japan.
Nice to see that Wall Street still has the right spin on things.