Japan’s Been All Keynes, All The Time: Debt Debacle Coming Soon

it should now be abundantly clear to all holders of JGBs that since over half of all national income must soon go to pay interest on the debt, the chances of the principal being repaid in anything close to real terms is zero. A massive default in explicit or implicit terms on the quadrillion yen ($10 trillion), which amounts to 242% of GDP, is now assured to happen shortly.
To access this post, you must purchase Monthly Subscription, Quarterly Subscription or Annual Subscription.