The Bank of Japan had withdrawn from the Japanese Government Bond market for a day and a half. The number of bonds sold in that time? ZERO!! The bonds earn 0.6% when official inflation is at 1% and the govt is promising to raise that to 2%.
What if the Japanese govt raises interest rates? Well, if the rates increased by 2%, that would take up 80% of the tax take of Japan. UNWORKABLE!
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