Abe’s Japan Is ‘Back’…To ‘Normal’: A Great Tourist Destination; Heading To Fiscal Crack-Up?

The two biggest spending numbers are the most problematic and dangerous. The Abe government, facing local elections in April, has left social welfare entitlements untouched, despite the need for deep cuts. Debt service costs are an almost certain time-bomb. Zero interest rates cannot prevail forever. Even an increase to 1% would be catastrophic.

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