Instead of Peter Pan, the Peter most relevant to Kuroda is Laurence J. Peter, who came up with the concept of the "Peter Principle"
In which "managers rise to the level of their incompetence".
Sorry, its rather harsh, but lets face it, Kuroda has shown that he isn't up to handling the post-honeymoon period of QQE. He wasted loads of bullets with his negative rate communication and implementation and the yen has surged.
It might be time to hand over the reins to someone better suited.
Take this guy Masatsugu Asakawa, who made some comments yesterday that were subtle hints at yen intervention. Now, I don' think the BOJ will be intervening anytime soon, but veiled hints and threats are entirely apporpriate given the soaring yen. Asakawa is on the right track with his hints.
Kuroda likes to surprise markets, it sounds like an ego thing to me. But, let's give him another chance - time to quit it with the surprises and start a campaing of leaks and innuendo to weaken the yen.
I vote to give him another chance. But K needs to get it right.
