Kyla Scanlon

And so it makes sense if they do approach something like that.

Yeah, Japan's really interesting.

You know, they're the largest holder of U.S.

debt.

So what happens like when Japan, well, the saying is when the U.S.

catches a cold, the rest of the world sneezes.

But truly, when the Japanese bond market catches a cold, the rest of the world sneezes.

So they own a ton of U.S.

debt.

And for a very long time, Japan has been stuck in this deflationary spiral.

They've had really stagnant growth.

It's been very difficult for their economy to grow.

Interest rates have been

kept at zero, and the Bank of Japan has had to really intervene into the bond market to keep everything from collapsing.

And over the past couple of months and years, Japan has been trying to exit that regime.

So the Bank of Japan has actually been hiking rates.

They've let interest rates rise and have been trying to, like, cannot get the market to stand on its own legs.

But they recently elected a new prime minister who is making the same mistake that Liz Truss did,

Liz Truss, Prime Minister of the UK, made this announcement about a fiscal mini-budget a couple years ago, doing these tax guides, and the bond market totally kicked her out.

It's something called a bond vigilante, where the bond market will make it very clear when they don't like a leader, and essentially make that leader exit.