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"A second ratings agency threatens to take action in downgrading Japan’s debt rating among rampant, utterly failed QE efforts"
Debt to income: You can only push water so far up hill, after that you need to let it run back down hill or, (at this point the metaphor brakes down a bit) you raise the valley so that the hill is the low spot. After a point if you want more debt you need more income.

In the US QE should be cash to everyone. More debt just doesn’t work, not without the income to service it.

China is getting back what it dished out. The feds printing press is inflating China not the US.