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That's because Japanese debt (up to this point) has been primarily financed by its own citizens, life insurance and pension funds. These are more likely to acce
by thematt 15y ago
That's because Japanese debt (up to this point) has been primarily financed by its own citizens, life insurance and pension funds. These are more likely to accept sub-AAA rated bonds and support their own government than external investors are.
- daemonize 15y agoJapan has no defense investment. 'nuff said.
- nerfhammer 15y agoYet they still have a debt-to-GDP ratio of 225%
- angus77 15y agoJapan spends 3% of its annual budget on defense.
- augustflanagan 15y agoIsn't most of the US debt also financed by its own citizens?
- cma 15y agoYes, about 70% of it.
- joezydeco 15y agoReally? http://cache.boston.com/bonzai-fba/Globe_Graphic/2011/07/31/31debtlimit_graphic1A__1312092683_2361.gif http://cache.boston.com/bonzai-fba/Globe_Graphic/2011/07/31/... [EDIT] Sorry, read the original statement wrong. I was thinking the parent said 70% was held foreign, not vice-versa.
- nknight 15y agoYes, really. Did you actually add the numbers up? The non-foreign components are nearly 70%.