Scaling Up The Japanese Debt Mountain

We walked through Japan's debt as a % of GDP in our Friday note. Here it is pictorially. Andrew Barber put together the Japanese bailout years overlaid with the debt mountain from 1.

This is one of the ugliest long term macro cycle charts in the world. The US Government better be very careful not to repeat this scary movie.

*Full Disclosure: I am short Japan via the ETF (EWJ).
KM