Why Japan long bonds yield so little

One of the things you will hear about the U.S. and its spending is that we will spend a lot, and then people will not want to buy our bonds.

Because Private Savings = Public Debt by identity, this means that with a mound of debt, you get an equivalent pile of savings.

With that savings, some large proportion of it will probably be just sitting there, looking for something to do. When this happens, why not just buy some safe government bonds and make a little money too?

This is what happened in Japan over the last decade. Look for our government debt to go to new low yields over the next few years.