Japan Debt Update: ¥1,020,000,000,000,000.00

Tyler Durden's picture


It's been a while since we looked at Japan's debt situation. Here is the dire update.

From Japan News:

Japan’s national debt totaled a record-high ¥1.02 quadrillion as of the end of March, up ¥33.36 trillion from a year earlier, the Finance Ministry said.


The central government debt, which increased ¥7.01 trillion from the end of December last year, kept rising mainly due to ballooning social security costs in line with the aging of the population.


The balance of government bonds, financing bills and other borrowing crossed the ¥1 quadrillion line for the first time ever at the end of June 2013.


The national debt stood at ¥8.06 million per capita, based on an estimated population of 127.14 million as of April 1.


Finance Minister Taro Aso said the situation has become “very severe” because of slow progress in fiscal reforms.


Of the debt, general government bonds increased ¥38.86 trillion from a year earlier to ¥743.87 trillion. Financing bills, used to procure funds for currency market intervention, totaled ¥115.69 trillion, up ¥420.8 billion.


But fiscal investment and loan program bonds, used to raise funds for loans to government affiliates, decreased ¥5.05 trillion to ¥104.21 trillion.


Long-term debt, excluding fiscal investment and loan bonds, financing bills and others, totaled ¥770.4 trillion.

* * *

So Japan's debt grew by 7 trillion in one quarter? Sure, why not. Here's why: presenting the Bank of Japan's balance sheet.


Perfectly "New", and quite sustainable, Normal.

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Sat, 05/10/2014 - 20:45 | 4747058 THX 1178
THX 1178's picture

At this point does it really matter? Won't the reset be horrifying no matter what?

Sat, 05/10/2014 - 20:49 | 4747077 balanced
balanced's picture

Hopefully the "reset" will coincide with the collapse of government as we know it. It's our current stuation that's horrifying.

Sat, 05/10/2014 - 21:05 | 4747108 nope-1004
nope-1004's picture

"Full faith and credit"..... LMFAO.  Neither sleet nor snow nor..... fucking quadrillions in debt will keep that pig from dying in a heap of paper trash.

Good luck Japan.  Your gov't financed your great grandchildrens' future, and then some.


Sat, 05/10/2014 - 21:10 | 4747126 LetThemEatRand
LetThemEatRand's picture

The guys who are receiving a big chunk of these unsustainable deficits (the oligarchs) in the form of spendable cash today, don't care much about sustainability of the model.  In fact, they want the system to fail.  They use the printed fiat to buy tangible things.  When the system resets, they will be Kings.

Sat, 05/10/2014 - 21:11 | 4747136 NoDebt
NoDebt's picture

A QUADRILLION Yen!  What is that in dollars?  Like $1,400?


Sat, 05/10/2014 - 21:24 | 4747174 Keyser
Keyser's picture

I remember a day when a million bucks was a lot of money... Funny, it wasn't that long ago... Think I'll run down a grab a $10 value meal at Micky D's... 


Sat, 05/10/2014 - 21:28 | 4747182 old naughty
old naughty's picture

Hopefully the "reset" ...

Japan can't wait that long!

Sat, 05/10/2014 - 21:31 | 4747189 Ineverslice
Ineverslice's picture


Stay tuned for antother episode of "Samurai Optometrist".....!!!

Sat, 05/10/2014 - 21:42 | 4747227 Manthong
Manthong's picture

A quadrillion here, a quadrillion there, pretty soon you are talking about real money.

Sat, 05/10/2014 - 22:03 | 4747289 Buckaroo Banzai
Buckaroo Banzai's picture

That reminds me. I need a new hockey stick.

Sat, 05/10/2014 - 22:11 | 4747304 NoDebt
NoDebt's picture

Remember when a pretty damned good hockey stick cost like $65?

Priced one lately?  

Sat, 05/10/2014 - 22:29 | 4747345 economics9698
economics9698's picture

226% public debt to GDP?

How does the tribe pass themselves off as Japanese bankers?

Sat, 05/10/2014 - 23:35 | 4747482 TheRedScourge
TheRedScourge's picture

No need for panic, I'll let them borrow a few quadrillion Zimbabwe Dollars if things get really bad.

Sun, 05/11/2014 - 06:06 | 4747701 svayambhu108
svayambhu108's picture

¥1,020,000,000,000,000.00 looks like a train

Sun, 05/11/2014 - 08:02 | 4747770 Oh regional Indian
Oh regional Indian's picture

Japan was never meant to succeed. As a nation.

Once the Marshall plan was in and the emperor had been confirmed as a USA vassal, it was all over bar the shouting.

Hundreds of nuclear plants right on top of the most seismic spots in Japan, culture ripped out from the heart, McDonardo-ization, frigging baseball as national sport and a currency that is the joke and the bitch of the western world.

Recepie for exactly what is going on today...



Sun, 05/11/2014 - 08:55 | 4747821 Abi Normal
Abi Normal's picture

LOL, as if any of you posting here know jack shit about what is going on, at least you do have an idea, and that is because ZH tells much truth...still noone knows what is going to happen in the future.

Dream on Pukin lovers, contrarians and America haters...you will find yourselves on the wrong side of the fence.

Sun, 05/11/2014 - 12:08 | 4748157 Stackers
Stackers's picture

Ran the numbers for some perspective.

thats about $80,000 per citizen

US is currently at $55,000 per citizen according to debtclock

Sun, 05/11/2014 - 00:46 | 4747559 Zero Point
Zero Point's picture

Hiring locals.

Sun, 05/11/2014 - 08:04 | 4747768 Pee Wee
Pee Wee's picture

Fascists hide behind incorporation where fraud and untruth thrives and laws do not apply - domestic or global.

Everything else is liquidated.  That fraud-fiat bubble is pumped full of Fascism, nothing else.

"No one saw it coming..."

Sun, 05/11/2014 - 18:57 | 4749111 newbie vampire
newbie vampire's picture

226% public debt to GDP?

How does the tribe pass themselves off as Japanese bankers?

Its called Voodoo banking for the serfs.  Only way out is a default on govt. debt and a "reset" or everyone will be using Million Yen notes for grocery shopping in the not too distant future.  Mrs Watanabe had better be holding some precious metals in the closet.


Sun, 05/11/2014 - 00:07 | 4747514 Squid-puppets a...
Squid-puppets a-go-go's picture

i went to buy one but the price has risen, well, in an eponymous fashion

Sun, 05/11/2014 - 04:43 | 4747673 hansg
hansg's picture

None of this matters though - most of that debt is to its own citizens. If the state can hold on another twenty years or so, most of them will be dead from old age. Some cunning legal way to make debt disappear on the death of the holder should suffice to solve the problem.

Sun, 05/11/2014 - 06:46 | 4747714 new game
new game's picture

step one: I am powerless over my debtmaster.

Sun, 05/11/2014 - 08:05 | 4747774 Pee Wee
Pee Wee's picture

Nothing "disappears."

You are merely marginalizing Fascism... nothing "legal" about it, fool.

Sun, 05/11/2014 - 18:59 | 4749114 newbie vampire
newbie vampire's picture

None of this matters though - most of that debt is to its own citizens. If the state can hold on another twenty years or so, most of them will be dead from old age. Some cunning legal way to make debt disappear on the death of the holder should suffice to solve the problem.


100% death duties.

Sun, 05/11/2014 - 10:39 | 4747973 Lewshine
Lewshine's picture

@ Keyser

Hasn't the Happy Meal ALWAYS been $10.00?? ...Of course it has!! Otherwise, Ben and Janet's .02% inflation assessment would be way wrong. Yep...Things have never been cheaper!!


Now, back to Dancing With The Stars!!!

Sat, 05/10/2014 - 21:27 | 4747181 WTFUD
WTFUD's picture

Da! Per Chinese capita

Sat, 05/10/2014 - 22:12 | 4747309 Arius
Arius's picture

another ukrainian?

Sat, 05/10/2014 - 23:16 | 4747451 Spitzer
Spitzer's picture

Math is sooooo Kyle Bass 2012

Sun, 05/11/2014 - 00:29 | 4747538 sodbuster
sodbuster's picture

According to the Keynesians, central bankers, and other assorted idiots running the show, they could easily fix this problem- they just need to print more!! Dumb bastards!!

Sun, 05/11/2014 - 09:08 | 4747835 Offthebeach
Offthebeach's picture

Why don't they make a real, really large, big, biggie size coin? ( per Dr. Krugman )

Sat, 05/10/2014 - 21:48 | 4747214 Kirk2NCC1701
Kirk2NCC1701's picture

Its about $10 Trillion.  Given their population, that scales to the US Debt being ~ $10T * 318/126, or ~ $25 T.  That's about $78,700 per person.  Have fun paying that off, especially with an aging and shrinking population.

Compared to the US Debt of $17.5T ($55,000/person) we're not that far behind.

Sat, 05/10/2014 - 22:12 | 4747310 NoDebt
NoDebt's picture

None of it's getting repaid anyway, so who cares what the number is?

Sat, 05/10/2014 - 22:28 | 4747348 fonzannoon
fonzannoon's picture

good point. 17 trillion...27 trillion...no difference.

Sun, 05/11/2014 - 00:10 | 4747517 Squid-puppets a...
Squid-puppets a-go-go's picture

yer, a jubileee is a jubilee

but whatch the real revolution start, complete with guillotines, when TPTB announce segregated jubilees: Debts of the TBTF waived, debt of the plebs maintained

that's gonna get the slobs off their bean bags and put their 'call of duty' skills to test

Sun, 05/11/2014 - 06:36 | 4747712 BigJim
BigJim's picture

 but whatch the real revolution start, complete with guillotines, when TPTB announce segregated jubilees: Debts of the TBTF waived, debt of the plebs maintained

'When"?? They already have. And apart from a few of us no one seems to give a damn.

Sun, 05/11/2014 - 07:45 | 4747751 Which is worse ...
Which is worse - bankers or terrorists's picture

Ding ding ding winner winner chicken dinner.

Sun, 05/11/2014 - 09:07 | 4747829 Abi Normal
Abi Normal's picture

yes, the bell has rung, all the Pavlovian's may now eat (shit) and die! 

No way to pay off the debt you say?  How foolish of me, to think they are digitizing so much money, means they are paying it off right now, with inlfation...soon to replaced by hyperinflation, to be followed by stagflation; then of course war.

If that fails, then there will be a debt jubilee...and that ain't gonna be your debt (slaves)....bwahahahhahaa!

I can't figure out which will be worse?  Ah, hell, it is all bad, no good outcomes, unless you are a murdering, greedy bastard, who likes to see people suffer.

I guess I will see some of you cocksmokers on the battlefield one day...here's to me seeing you FIRST!!!!  Suckers...

Maybe this OAS thing come Friday, will help get things kickstarted here in America!  At some point people wake up, oh, never mind, American's are too busy watching Idols and doing bong hits to care much....FUCK!

Sun, 05/11/2014 - 09:09 | 4747837 Abi Normal
Abi Normal's picture

LOL, my serial junkers are here fast today!  Good for you, down vote me all ya want, not gonna change the outcome peckerwoods...you still are going to fry!

Sun, 05/11/2014 - 10:48 | 4747985 Lewshine
Lewshine's picture

You could dip the average American's 5 year old in cooking oil, roll him in flour and bake him at 425 degrees for an hour - And that wouldn't be enough to get their parents to stand up and do something. Face it...ALL evidence points to this country being toast.


Look who was elected twice to be President.

Sun, 05/11/2014 - 02:12 | 4747627 Central Wanker
Central Wanker's picture

"A QUADRILLION Yen!  What is that in dollars?  Like $1,400?"


I don't know what it is in dollars, but it will be about one ounce of gold. Some day.

Sun, 05/11/2014 - 04:06 | 4747656 Al Gorerhythm
Al Gorerhythm's picture

The ironic thing is the two currencies are on parity. 101.3 yen = 100 cents US. Then again, all currencies are on the same measuring stick. The numeraire is "faith". Fuck me, I'm going to be sick.

Sun, 05/11/2014 - 08:12 | 4747779 Pee Wee
Pee Wee's picture

It ain't faith, it's FRAUD.  Full FRAUD and credit.

We're not talking about anything but imagination.  Quit trying to make it sound like even a shred of fiat is legitimate or has "worth" in the universe.

Weak minds abound on ths topic.

Sun, 05/11/2014 - 05:26 | 4747687 thecoloredsky
thecoloredsky's picture

They probably could have built a few death stars by now. 

Sat, 05/10/2014 - 21:32 | 4747194 old naughty
old naughty's picture

when you eliminate the commas and dot, it's only 102 X 1013.

Sat, 05/10/2014 - 21:32 | 4747190 Stoploss
Stoploss's picture

It's actually brilliant. Unintended, but brilliant none the less.

Run it out on a flagpole, no body wants to collect on the debt if it went bad anyway.

What are they going to do, go get a chunk of that irradiated mess called Japan?

The whole country is covered in plutonium dust, not to mention the rest of the northern hemi.



Sat, 05/10/2014 - 21:19 | 4747157 seek
seek's picture

Unfortunately there's a bunch of control freaks waiting in the wings for an opportunity* to implement something even worse.

What will be interesting is if people let them get away with it or fight it, and a lot of that depends on these bozos delivering goodies they don't own to others that never earned them. Pray they're as incompetent in a crisis as they have been when things are going "well."

* Let no crisis go wasted

Sat, 05/10/2014 - 21:34 | 4747198 willwork4food
willwork4food's picture

The thing about power-hungry, rich, always want more sociopaths is that their evil tends to get in the way of others who also think they're the king of the hill. Ergo, evil tends to destroy itself over time. Let's pray it doesn't take out us out with it.

Sat, 05/10/2014 - 23:16 | 4747452 Oldwood
Oldwood's picture

Leave it to the Japanese to actually be the first to infinity.

Sun, 05/11/2014 - 04:34 | 4747671 piliage
piliage's picture

I think this is actually the number that Cal Worthington used to refer to as "A Jillion" http://www.youtube.com/watch?v=0HJALwCNbco

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