US money manager Kyle Bass says Japan’s central government spends 50% of its revenue on servicing debt. If interest rates rose by 2% then all of Japan’s tax revenue would be spent on servicing debt, leaving it with no money for anything else.
Central bankers around the world are enthralled by quantitative easing, says Bill Gross. That should make investors very nervous, says the co-founder of PIMCO, the world's biggest bond fund.