Will Japan Topple First?

japanSimon Black discusses Japan’s problems:

46% of the Japanese government’s budget is financed by debt. Most of this is mopped up by the central bank.

Yet as the government’s debt level already exceeds 200% of GDP, the gross interest payments alone eat up more than 50% of tax revenue. 

Japan has no hope of getting out of this alive.

Will Japan be the first domino? Tough question. There are so many candidates.