TYBS - After Pandemic Possible Sovereign Defaults And Hyperinflation

Perhaps it is the Japanese lesson of the past few decades which is leading us to a growing perception of the idea that debt no longer matters. After all, we watched as Japan's sovereign debt as a percentage of GDP increased dramatically in the last few decades, yet the yen did not collapse, the country did not default and living standards continue to be decent.

Source: Macrotrends.

I should note that this data is net government debt, given that it is reduced by all government financial assets. Even so it is very high at

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