3 ms·
"Moreover, unlike Japan and like Argentina and Iceland, the US is a debtor nation -- not a lender. This increases the likelihood of a run on the currency, which
by lionheart 18y ago
"Moreover, unlike Japan and like Argentina and Iceland, the US is a debtor nation -- not a lender. This increases the likelihood of a run on the currency, which will result in significant currency devaluation."
I'm confused. Isn't Japan's national debt about 120% of its GDP? And our is about 75%. Doesn't that make Japan more of a debtor nation than us?
- mattchew 18y agoI'm guessing, but the article is probably talking about total debt, public + private. IIRC Japan has lots of govt debt, but private savings. U.S. has high-average govt debt and also lots of private debt. The sentence is certainly arguable, I agree.
- biohacker42 18y agoI think he means the trade deficit/surplus.