Remember back in December when hedge fund manager, Kyle Bass, was predicting a catastrophic financial collapse in Japan because of all its debt? He equated Japan to a "bug in search of a windshield?"
I immediately pounced all over that here and here, explaining why Bass's arguments were completely ignorant. They showed a total lack of understanding of fiat currency systems.
Bass purportedly bet big against Japanese government bonds (maybe he just put his clients' money in that trade) however, since then, JGBs have surged, causing the yield to collapse all the way down close to 0.5%, and that's despite Japan's debt being nearly 300% of GDP!
These guys will never get it, so don't expect them to, however, the real problem is that the stupid media and much of the financial community and our own leaders believe their crap even though everything they have ever predicted never comes true.
P.S. The yen did go down for a while, but now it's going back up.
