Nikkei Opens Higher On Monday

The Nikkei is picking up where Wall Street left off on Friday. Japanese managers are back to expressing optimism. The cycle of optimism, to fears of economic weakness, to pessimism, to downright paranoia is beginning afresh.

Reuters: Nikkei climbs on recovery hopes, carmakers power up

Look, Roubini is on the money so far. So it behooves us to at least follow his warnings.

Reuters: Roubini warns of double-dip recession: report

..."damned if they do and damned if they don't" conundrum in trying to unwind their massive fiscal and monetary stimuli to keep the global economy from toppling into a depression.

He said that if policymakers try to fight rising budget deficits by raising taxes and cutting spending, they could undermine any recovery.