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Japan is ranked 3rd in the world with a staggering level of public debt.
Not too far behind Zimbabwe and Lebanon !
Yet their Yen is super strong , how is that possible ???
the USD is a reserve currency I suppose, even if it's ailing, but what is the yen, where's the supposrt coming from ?
I would think of buying some gold if i was a Japanese citizen.
The USA conveniently doesn't include its unfunded social security and medicare liabilities .. which would add another
$50 trillion of debt over 75 years... so i dont take much notice of its ranking in the 20's.
That liability will accumulate over time .. and entail lots of additional printing I'm guessing .. unless they want to start raising taxes during the recession.
http://en.wikipedia.org/wiki/List_of_countries_by_public_debt
