|We're spending lots of Japanese money on "infrastructure". Forward!|
Japan is totally buried in debt. Their debt levels are not just unsustainable, they are positively unstable. When their house of cards falls apart, they're going to ... sell, Sell, SELL! And what do they have to sell? Well, for starters, they've got a trillion dollars of our bonds.
Not to worry, though. The Fed has been stocking up on lightweight oil to keep their printing presses humming at top speed. They'll be able to sop up all that excess supply of Treasuries with not problems at all!