While Europe receives an inordinate amount of attention for its current financial problems, and the U.S. has long been a pariah, we feel that recently markets and investors may have forgotten about Japan.
“What’s happening in Greece is just the tip of an iceberg of a broader range of sovereign debt issues, of deficit, in many advanced economies,” said Roubini, one of the few experts who predicted the financial crisis.
The new crisis could occur “not just in the eurozone but UK, US, or Japan,” he said.
Roubini, speaking at a London School of Economics conference, said there was an “economic recovery, but in many ways countries have not answered the real problem.
Is Japan better off than the Eurozone? Financially? Demographically? We doubt it.