Coming 'Crash' Will Not End In Tears, But a Snooze

No trade has lost more money for more people than the Japanese government debt crash that never happened. The same applies to America's burgeoning public debt. Peter Boone and Simon Johnson, the latter a former chief economist at the International Monetary Fund, warned last September 19 that "Europe's crisis will be followed by a more devastating one, likely beginning in Japan." Since then, the interest rate on 10-year Japanese government debt has fallen by almost half as the Bank of Japan announced an aggressive program of bond purchases.