Imagine, Big Quake in Tokyo, 23 years later….
Micheal Lewis skriver en läsvärd artikel i dagens Bloomberg. The trader skrev om Lewis artikel från 89, se inlägget Quake history i veckan. Vad händer om vi får the big one i Tokyo?
“The ratio of Japan’s government debt to its gross domestic product (more than 225 percent) is the highest in the developed world, almost double that of the next-worst basket case: Greece. The Japanese government still owns about $900 billion of U.S. Treasuries, but less honestly. In effect, the Japanese government has borrowed huge sums from its own, increasingly strapped people and used some of that money to fund U.S. Treasury purchases.
The Japanese population, aging and shrinking, is saving less and less. The historically biggest buyers of Japanese government bonds — Japanese government pension plans — have recently become net sellers. The country has run through five finance ministers in the past two years, and in ways that suggest the job has become a lot less appealing. (One left for health reasons, another appears to have committed suicide.)”