Lena Petrova: Japan is Dumping US Debt, a Global Market Implosion is Coming

For decades, the financial stability of Japan—our largest foreign holder of US Treasury debt, has been a cornerstone of the global economy, effectively subsidizing low borrowing costs across the United States. If you’ve ever enjoyed a low mortgage rate, a manageable car loan, or cheap credit, you have, in part, benefited from Japan’s willingness to hold vast amounts of US debt. That era, however, is ending. Japan is currently navigating a profound and critical fiscal crisis that is not only destabilizing Asia but is also directly driving up interest rates and volatility right here in the US. This is more…