Japan is likely to default before Europe does, possibly by 2017, says Takeshi Fujimaki, a former...

|By:, SA News Editor
Japan is likely to default before Europe does, possibly by 2017, says Takeshi Fujimaki, a former adviser to George Soros. If Japan defaults, the yen could weaken to 400-500 to the dollar and the yields on benchmark 10-year bonds could surge above 80%. He recommends Japanese investors buy assets denominated in U.S. dollars and other strong, developed-nation currencies.