The graph below of Japan’s long-term bond (JGB) yield is surely a 12-alarm warning that the era of spend, borrow and print is drawing to a close—perhaps even violently so. Since the yield on the 40-year JGB touched nearly zero in 2019 it has been climbing skyward for six years—slowly at first, and then massively […]
Why Washington Is Deaf To Japan’s 12-Alarm Debt Warning, Part 2
