Japan Was the World’s Free ATM for 30 Years — That Machine Is Running Out of Cash

2026-02-09 - 13:35

Key Points —Japan’s new prime minister won an unchecked supermajority to ramp up spending in the most indebted rich nation on Earth — and bond markets are already punishing the bet —For three decades, Japan’s near-zero interest rates quietly subsidized global borrowing — that era is ending, and the ripple effects will reach every economy