Don't Let 'Mr. Dollar' Get Away With It.

Comments on efforts by Zembei Mizoguchi of Japan's Ministry of Finance to drive down the value of the yen to give Japanese exporters more time to prepare for a strong-yen era. Claim that Mizoguchi may disrupt markets by weakening the yen and creating instability in the value of the dollar; Argument that Japan's currency meddling smacks of pure mercantilism and should be opposed by its trading partners; Background on why Japan is undercutting the yen; Claim that U.S. Treasury Secretary John W. Snow is failing to act decisively because America's current-account deficit makes the U.S. dependent on foreigners; Speculation about the impact on the world economy of Mizoguchi's currency debasement.