From the Archives: How a Country Goes Bankrupt, In 10 Steps

Gradually then suddenly (2024?)

Japan appears to have entered the inevitable fiat currency death spiral, where interest rates (and interest costs) rise while the currency falls. Fix one problem and the other gets worse, until the system breaks. Here, from March 2023, is a longer explanation:

How a Country Goes Bankrupt, In 10 Steps

The past few decades of unnaturally easy money have cr…