Ten years from now, will Bank of Japan governor Haruhiko Kuroda be regarded as a genius or a madman? Kuroda's shock-and-awe stimulus move on October 31 delighted markets and won him plaudits as a monetary virtuoso. Japan, the conventional wisdom tells us, has finally got serious about ending deflation, and isn't it wonderful. But what happens when a central bank buys up an entire bond market? We're about to find out as Kuroda, like some feverish hedge fund manager, corners Japan's. Neglected in all the celebrating: to reach a 2 per cent inflation goal that's both arbitrary and meaningless, the BOJ is destroying ... (full story)