Meaning: The quote by Julian Robertson reflects concerns about the United States' heavy reliance on foreign countries, particularly Japan and China, to purchase its debt. This reliance has led to a situation where the U.S. is heavily indebted to these nations, and there is a fear that if they were to stop buying U.S. debt, it could have catastrophic consequences for the American economy.

The term "Armageddon" is often used metaphorically to describe a catastrophic and apocalyptic event. In this context, Robertson is suggesting that if Japan and China were to stop buying U.S. debt, it would have a devastating impact on the American economy, leading to a financial crisis of epic proportions.

The U.S. government issues debt in the form of Treasury securities to finance its operations and meet its financial obligations. These securities are bought by both domestic and foreign investors, with Japan and China being two of the largest foreign holders of U.S. debt. Their purchases of U.S. debt have helped to fund the U.S. government's deficit spending and have allowed it to maintain its spending levels.

The concern expressed in the quote is rooted in the fact that the U.S. has been running budget deficits for many years, resulting in a continuously growing national debt. This has led to a situation where the U.S. is reliant on foreign countries to continue purchasing its debt in order to fund its spending. If these countries were to suddenly reduce or cease their purchases of U.S. debt, it could lead to a funding crisis for the U.S. government, making it difficult for it to meet its financial obligations.

The quote also reflects a broader concern about the overall level of U.S. indebtedness and the sustainability of its fiscal policies. The U.S. national debt has been on an upward trajectory for many years, and there are worries about the long-term implications of this trend. If foreign countries were to lose confidence in the U.S. government's ability to manage its debt and fiscal policies, it could lead to a loss of faith in the U.S. economy and its financial stability.

The idea of "getting out of it" mentioned in the quote suggests that there is a recognition of the need to address the underlying issues of U.S. indebtedness and reliance on foreign buyers of its debt. This could involve implementing policies to reduce budget deficits, control government spending, and reduce the reliance on foreign financing.

In conclusion, Julian Robertson's quote highlights the concerns about the potential consequences of the U.S. government's heavy reliance on foreign countries, particularly Japan and China, to purchase its debt. It reflects broader concerns about the sustainability of U.S. fiscal policies and the need to address the underlying issues of growing national debt and reliance on foreign financing.