Best Buy (BBY) reported earnings with a little something for everyone. For the bears there were shrinking revenues, declining margins and diminishing sales on a comparable store basis and just about every other numerical measure of results. The company pronounced the reported 32-cents non-GAAP and 29-cents GAAP profits to be "better-than-expected" but said more about expectations than Best Buy's quarter.

Noting that the stock is up 125% in 2013, my Breakout co-host Matt Nesto is unimpressed. "Now the question is, do you believe these guys?" Nesto grumbles in the attached clip. "Why would you get on board the ship at these levels?"

The answer depends on where you look. Last March BBY CEO Hubert Joly laid out the six focus areas of his Renew Blue turnaround plan. As discussed on Breakout at the time, those measures would be the appropriate way to gauge Best Buy's progress, particularly since the company itself suspended financial guidance. Applying these metrics to the results released this morning shows BBY making some degree of progress.

Best Buy grew online sales 16%, struck a deal to establish Samsung Experience Shops, "negotiated overall rent reductions at a number of stores," ripped another $175 million of annualized SG&A expenses out of the supply chain and sold off its European operations. While the turnaround remains very much a work in progress, the company has a plan and is sticking to it — even if they aren't absolutely certain what the end result will be.

Just as the Beatles sent the world into a frenzy in the summer of ‘64, rockstar Prime Minister Shinzo Abe’s latest hit “Abenomics,” is taking Japan by storm. Since announcing his economic jumpstart policies back in November, the Nikkei (^N225) has surged 70%, and now comes fresh evidence that the economy has improved as well, with GDP climbing higher due to strong exports and factory output.

Economists and investors may be praising the sweet tunes of “Abenomics,” however the successes are coming at what some are saying is a steep cost. “[Abenomics] has made the stock market go up quite a lot, it’s been dramatic, but it’s made the currency collapse,” legendary investor Jim Rogers, says in the attached video.

“The [Yen], which is one of the major currencies of the world, has collapsed 27% in no time,” Rogers notes. “It’s a very, very dangerous move.”

Since the Yen blasted through 100 parity level with the U.S. dollar, its slide has continued to a new 4-1/2 year low.

As a general rule, Rogers is skeptical of governments that devalue their currencies. “I know the government is reporting that [the Yen’s] move is good, but I don’t trust governments. I don’t trust our government, their government, or anybody else. Their government is as good at lying as ours is.”

Rogers, who started the legendary Quantum Fund with George Soros, says the Japanese government is being coy about the deleterious effects of the Yen’s slide because Mr. Abe wants to win elections this summer, and it will ultimately be the Japanese citizens who will be left holding the bag.