re: I envy Japan.

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How does that lower risk profile? Were a country to go insolvent against its own people, that seems a fairly high risk precept.

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Any country or biz can go insolvent

My point jpn has a “relatively” lower risk profile is a function of the demographic who holds the debt. JPN effectively has a perpetual guaranteed buyer of their debt bc the citizens are highly nationalist and conservative savers

Even with such high ratios, they keep rates low bc the govt doesn’t really have to worry about meeting expectations of sovereign investors. If this wasn’t the case, domestic rates would almost certainly blow out; then the japs would be in a world of trouble if the cost to finance their budget goes up by, say, 1000%