Abenomics for a long time was successful in depressing the yen. It went from about 82 yen to a dollar in December 2012, to 105.3 yen to a dollar in January 2014. Year-to-date however the U.S. dollar is down 3.7% against the yen. Richard Bernstein, CEO of Richard Bernstein Advisors, thinks the only real story in Japan is the yen. "The competitive advantage has been whittled away through demographics, through productivity, through better competitiveness in other emerging market," Bernstein said at a breakfast earlier today. "What's left is currency. If you have no competitive advantage, this is true of every country, ... (full story)