[erlayman]

They can’t raise rates and still be able to pay interest on the debt.

[Cboldt]

Tokusei = small reset

[PGR88]

In Japan capital exists not to serve economic needs, but instead to serve political needs. To that end, debt was allowed, even encouraged

For the past 30 years, US Fed.gov debt is more or less the same.

[VanShuyten]

He fails to distinguish between consumer debt and business debt. Japanese tend to pay cash for most consumer goods, except for housing. That encourages the government to work for stable employment.