Talk about rude guests! They fly first class to your event, luxuriate in your splendid hotels and conference centers, pleasure in your unrivaled service, feast on your exquisite cuisine, and then dare to warn you that you are heading toward a financial catastrophe worse than the Greeks’. Also that your stolid, conservative bankers, rather than avoiding risk by channelling depositors’ savings into Japanese government bonds (JGBs), are setting themselves--and the country--up for massive losses when interest rates rise.
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