People are grossly underestimating the monetary turmoil in Japan.

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Japan’s state pension fund, the world’s largest, just reported a staggering $4.5 billion loss for the quarter.

The financial situation in Japan is growing increasingly precarious, and the market is feeling the heat as the 10-year breakeven rises, putting significant pressure on the yen. To combat the surging inflation, Japan has approved a massive $110 billion stimulus package.