As I have kept waring since November Japan and the PIIGS are all near default, Japan the second biggest economy in the world could default in the next 12 months
the demographics of Japan, falling birth rates and most of the population over 50, with more than 26% of 65 by 2014 make it near impossible to save
Japan is the next Greece in the near term look for USD to continue its counter trend run when it put in a strong intermediate bottom in very late 09
