ROUBINI THROWS IN THE TOWL: EVERYONE'S ON ONE SIDE OF THE TRADE

Japan has taken up Bernanke's print or die mantra and gone one better.  They are printing as much in a country one third the size.  

And everyone says it's working wonders. Even Nouriel Roubini.  He does begrudgingly note that the policy still could fail.  If certain things go wrongs:

However, consumer service sector price deflation, arguably the most important gauge of general price level trends, accelerated for a third straight quarter, corroborating the weak CPI data we have seen so far this year. There is still a long road to sustained positive inflation.

The first thing that jumped out at us was the negative sign in front of the private nonresidential investment growth rate. At -0.7% q/q, private investment in plants and equipment recorded a fifth straight sequential contraction, a particularly ignominious result…. Given the slack still evident in the economy through Q1 (recall that deflation worsened over the quarter), this result isn't so surprising. The pace of contraction was considerably slower than H2 2012, and we expect to see this series return to growth in Q2. Still, this persistent weakness underscores the challenges to Japan's longer-term outlook. The pace of private nonresidential investment is now more than 17% below its Q1 2008 peak.

But clearly even Roubini is loath to predict dire consequences for massive printing.  He'd be a fool, right.  Massive printing is so clearly working here, in England, and now in Japan.  The European's will be fools not to join on in.

So markets will soar, gold will dive as long as this narrative continues.  Prosperity can be simply printed with a computer.  This is the computer age.  Get with it.

Sell all your gold and put all the proceeds into the stock market.  You can't go wrong.  After all, everything in human history changed drastically in 2009 - thanks to the Universal Genius of Ben Bernanke.  One man who had the courage to change the entire course of human history.  One man realized that prosperity could be printed into existence just by pushing a button on a computer.  Kind of like the Namy-ho-regne-kyo Buddhists who become prosperous by chanting.  But this doesn't even take chanting.  That would be too much work.

Thank God for his genius, his courage, his integrity.  Thank God.