With Japan's massive monetary program now in full swing this interview with Kyle Bass is a timely one.
Bass thinks that Japan's retirees, which are one-third of the people in Japan, are going to be the biggest losers of this program.
According to Bass there is no way out for Japan which has debt that is 24 times its government tax revenue and a secular decline in population.
With respect to what happens in a world of runaway inflation, Bass says the poor stay poor, the middle class who have their savings in the bank get crushed, and the rich who own productive assets do the best.
Bass thinks that Japan's retirees, which are one-third of the people in Japan, are going to be the biggest losers of this program.
According to Bass there is no way out for Japan which has debt that is 24 times its government tax revenue and a secular decline in population.
With respect to what happens in a world of runaway inflation, Bass says the poor stay poor, the middle class who have their savings in the bank get crushed, and the rich who own productive assets do the best.
