Regarding the Dec. 1 editorial "Yen perched at risky height": The Bank of Japan and the Finance Ministry can resolve this problem quite easily. Japan is the only major country with deflation and a strong currency. This should not be the case. A country with deflation should have a weakening currency.
The yen is strong because of speculation, a weak U.S. dollar and the unwinding of short positions in the yen and long positions in the Aussie (dollar), gold, oil, etc. The cheapest and most effective remedy for Japan is to intervene aggressively in the foreign exchange market by selling yen and buying U.S. dollars. With the U.S. dollar, Japan can invest in commodities instead of buying U.S. treasuries.
It is ridiculous for Japan not to take action for the sake of its economic well-being. Japan's intervention is justified. Policymakers should have the courage to make this decision and not just wait for U.S. "permission," which may not come.
Japan should not incur more debt through more fiscal spending, as the debts accumulated are already very huge.