This is a fascinating deep dive into the financial state of affairs in Japan. We often see the quote of Japan has gov't debt that exceeds 200% of their GDP. "For the lulz" asks: When is the crash? No one fully understands how a G7 nation can do it, but this article shares new data on the complexity of the 200+% debt to GDP ratio.
FYI: It is free to sign-up for FT/Alphaville -- the much less formal blog of the Financial Times. Also, you can probably find the link on an archiver site.