The Japanese Ministry of Finance just officially announced the national debt plan for the next fiscal year, and the numbers are a bit shocking—an additional 29.6 trillion yen in government bonds. How big is this scale? Stacked banknotes could cover several Tokyo Towers.

The problem is, Japan has been stuck in a "debt cycle" for years. Deflation remains unbroken, residents' consumption desires are declining, and the aging population continues to worsen... The government's response is basically to print money—relying on public investment to forcibly boost economic data.

It looks exciting, but the risks are there. If an economy relies on borrowing to sustain growth over the long term, the final outcome is often not very good. When debt levels expand to a certain point, who will foot the bill? Who will ultimately bear the brunt of this?

Investors in the crypto market should pay attention: major global economies are all playing the "money printing" game, with liquidity being released in USD, JPY, EUR... Various forms of liquidity are flooding the market. Is this good news or poison for risk assets, including tokens like $ETH and $ZBT? The market will provide the answer.