Why Japan Is Doomed (and the U.S. and E.U., too): Demographics, Low Savings, Ballooning Debt (August 3, 2010) Japan muddled through the past 20 years because its vast domestic savings self-funded its stupendous public debts. That dynamic has reversed, and the consequences cannot be pushed aside for much longer. Japan's debt crisis has been building for a decade. Back in 2001 I wrote an essay on Ja