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The Government Debt Situation Japan: A Catastrophe Waiting To Happen


from Gold Silver Worlds:

In what we consider a magnificent speech, not because of the type of message but rather in terms of the depth of insights, Kyle Bass explains at the University of Chicago Booth School of Business why he believes the Japanese government debt bubble is explosive in nature. He expects this bubble to burst soon, although he reiterates that it is impossible to know when exactly this will happen. His presentation contains a lot of quotes that are worth sharing and reflecting. This article contains what we consider the most important ones.

First he talks about the magnitude of the government debt. Japan crossed one quadrillion Yen of government debt. That is 1,000 trillion yen. If you try to count that figure by seconds, it equals 31 million years. Related to this is the debt servicing cost which is unsustainable even with artificially low interest rates.

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