Ambrose EvansPritchard Finance and business comments Thu 2009-11-19 10:33 EST
It is Japan we should be worrying about not America
Japan is drifting helplessly towards a dramatic fiscal crisis. For 20 years the world's secondlargest economy has been able to borrow cheaply from a captive bond market feeding its addiction to Keynesian deficit spending - and allowing it to push public debt beyond the point of no return.
Ambrose EvansPritchard Finance; America; Business Comment; Japan; Worries.