Like a thundershower on a sunny day, Ambrose Evans-Pritchard can put a negative slant on just about anything but today he takes on Japan’s enormous debt problem and says not to worry.
Japan’s QE will never be fully unwound. Nor should it be. If a country can eliminate a large chunk of unsustainable debt without setting off an inflation spiral, or a currency crash, or the bubonic plague, there has to be a very strong reason not to do it. I have yet hear such a reason…. Japan has to pick its poison. Abenomics is surely the sweeter brew.
Just in case you thought he was turning over a new leaf with all the summer sunshine, he also wrote about Greek youth unemployment hitting 65% in data released today.
