of course Japan has some serious problems with regard to its central govt. debt levels, but the whole tone of this article and the various “experts” wheeled out to tell us just how close Japan is to sovereign default is pretty entertaining. i might read some of the comments below the article if i can be bothered, but seriously, there are plenty of EU member states and flailing superpowers that are, by any reasonable measure, much closer to the brink than Japan.

and those CDS spreads he quotes are quite a little casino there all by themselves. i mean really, who is it exactly that is borrowing short-term to spend up trillions long-term on keeping the banksters, legal drug cartels and war industry in the lifestyle to which it has become accustomed?