Japan's Growing Sovereign Debt Time Bomb

[HiPointDem]

7. Most of Japan's debt is borrowed from its people rather than from financiers. That's the main

problem in a lot of people's eyes.

Take kunstler with a spoonful of salt.

"An economy with its own currency can sustain very large debt loads without prompting a crisis. And an economy with its own currency and a persistent current-account surplus can flout every last bit of conventional debt wisdom and still avoid crisis."

Japan has control of its own currency. It can run into other problems (like financial attacks from other countries that don't like what it's doing, and they apparently don't) -- but the repetitive attacks on its debt load are misleading.