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Japan Debt Update: ¥1,020,000,000,000,000.00
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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At this point does it really matter? Won't the reset be horrifying no matter what?
Hopefully the "reset" will coincide with the collapse of government as we know it. It's our current stuation that's horrifying.
"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.
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.
A QUADRILLION Yen! What is that in dollars? Like $1,400?
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...
Hopefully the "reset" ...
Japan can't wait that long!
Stay tuned for antother episode of "Samurai Optometrist".....!!!
A quadrillion here, a quadrillion there, pretty soon you are talking about real money.
That reminds me. I need a new hockey stick.
Remember when a pretty damned good hockey stick cost like $65?
Priced one lately?
226% public debt to GDP?
How does the tribe pass themselves off as Japanese bankers?
No need for panic, I'll let them borrow a few quadrillion Zimbabwe Dollars if things get really bad.
¥1,020,000,000,000,000.00 looks like a train
Remember? In Japan, debt doesn't matter.
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...
ori
http://aadivaahan.wordpress.com/2010/09/03/the-curse-of-free-energy/
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.
Ran the numbers for some perspective.
thats about $80,000 per citizen
US is currently at $55,000 per citizen according to debtclock
Hiring locals.
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..."
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.
i went to buy one but the price has risen, well, in an eponymous fashion
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.
step one: I am powerless over my debtmaster.
Nothing "disappears."
You are merely marginalizing Fascism... nothing "legal" about it, fool.
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.
@ 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!!!
Da! Per Chinese capita
another ukrainian?
Math is sooooo Kyle Bass 2012
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!!
Why don't they make a real, really large, big, biggie size coin? ( per Dr. Krugman )
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.
None of it's getting repaid anyway, so who cares what the number is?
good point. 17 trillion...27 trillion...no difference.
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
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.
Ding ding ding winner winner chicken dinner.
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!
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!
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.
"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.
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.
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.
They probably could have built a few death stars by now.
when you eliminate the commas and dot, it's only 102 X 1013.
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.
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
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.
Leave it to the Japanese to actually be the first to infinity.
I think this is actually the number that Cal Worthington used to refer to as "A Jillion" http://www.youtube.com/watch?v=0HJALwCNbco
Fortunately, there are a bunch of control-freak hunters waiting for the "opportunity" to make them all bleed. Neighbors, friends, family, it doesn't matter these "control freaks" are dead.
Blood in the streets will need a new definition.
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.
This is why we're in a crisis now... if there was an endless spigot of bread and circuses, then we wouldn't even know there was an issue. There is no voluntary deleveraging of a critical mass. Revolution is born out of the same necessity, not want.
The point should also be made that our present form of government, as bad as it may be, does at least have some positive vestiges of collective bargaining from years long gone. While these are eroded daily, they still may be much better than what a successor may impose.
"PLEASE do not worry," according to Japan's Ministry of Finance. I guess they've got a point -- worrying about it won't solve the problem.
Hopefully Moore's Law can keep up with the Jap financial system.
Bullish for quantum computing.
Sustainable.
only 7 trillion in one quarter? Geez guys, you are really, really kind of paranoid. Things look great!*
(from the Rothschild's perspective)
It ain't the reset they are trying to deny, but rather the reason. Too much blade, needs moar stick.
"At this point does it really matter? Won't the reset be horrifying no matter what?"
What do you mean, the coming reset? The value of my savings are being reset every.... fucking....day!!!!! It doesn't matter what it is that I've saved, PMs real estate, shares, superannuation,..they're all being destroyed, right before my eyes and the thing is, I know it's not through any fault of the fundamental reasons for saving excess production. They are being manipulated by the very fact that the monetary system is fraudulent and the people who own that system are criminally stripping me of my retirement.
You have one junker who has a firm grasp of the surreal. Fucking retarded piece of shit. Too fucking stupid to read the headline of the article and then waaayyy too stupid to grasp its magnitude. Retarded fuckin' asswipe.
You forgot "Mission Accomplished," pissboy. Now go find a job!
Yes, your deposits are dropping in value every day... If you leave your assets in cash, then you have no one to blame except yourself since you possess this knowledge...
The coming reset is going to drop the USD index by at least half, somehow a bit more than current inflation and devaluation...
So you have 2 choices, 1) keep bitching until your wealth is gone or 2) do something about it... Your choice...
Yes, because the answer away from cash is such an obvious one... especially considering that until the prophesied reset, the dollar will have a good chance of being the world's safe haven...
Essentially, the only thing you can do is mitigate your damages through diversification, but this means that you're stuffing your money into more than a few losers and you're sure to feel some pain. If I have all the tools and resources that I'll need to sustain my life and have a pretty solid standard of living, all things considered, then I'm not sure there are any perfect choices left in which to invest.
Right now is horrifying. I'm not sure why the reset would be.
BITCOIN !!!!!!!
'Oh no. There goes Tokyo...go go Godzilla '
They should be able to plug up the leaks @ Fukishima with all those ledger entries thereby fixing the damage and not letting Godzilla out of the gene cage in the first place.
1.02 PetaYen
That's a new zoo opening in Tokyo, admission is only a TeraYen.
Not sure why I keep thinking of Germany in 1923 when I see numbers like this.
'rock solid baby' wayda go Mugabe.. er.. I mean just Abe
Mug Abe?
In the end, we're all Zimbabweans.
leaves on the trees have more value than the yen.
Carbon Credits?
And to think this nutjob is making this prediction.
Yen at 85 Seen by Tokai Predicting BOJ Policy Miss: Japan Credit - Bloomberg
i saw that the other day Y/C and was going to link it on this thread to you. crazy eh?
Funny he avoided mentioning that the Nikkei would be around 6K and the S&P god knows where.
Yep the sheer arrogance of his delivery surpassed even Benny the Bolt Bernanke. At least Ben's lips would quiver.
Thanks for thinking of me Fonz.
Yea, that sounds about right for the "PenNikkei".
85? How the fuck is that justified? What?
because when you have run the debt high enough, as nodebt alluded to above, everyone knows it will never be called in. so there is a good chance people still run towards the burning building.
Fair point. Unless you're able to magic a trillion dollar coin out of your ass I suppose. Still, 85, calling for a piss weak USD vs a JPY that no one has any real risk commitment to for carry and safety. Running towards a fire is all well and good (Italian bonds?!),but can't see it getting that low. Been long since 70 something and the same conditions (or percieved conditions) just don't exist as compared to then, pre intervention, pre Abe etc etc.
Japans debt is bigger than the bagger 293.
http://www.youtube.com/watch?v=cocg1u0nwbI
less leaves, more value...
?????
Shikata ga nai
is that Yakuza for Forgetaboutit?
Horry schittt!
Datta vig number!!!
Is a quadrillion yen enough to build a Death Star?
Almost. You need some yuan, rubles, and dollars. Save the Euros for making change later. You are on the death star - planet earth.
Debt Star maybe.
"Please do not worry"
Rotflmfao. That is the official japanese government position. In traditional polite japanese speak i am surprised they didnt follow it with
"Please be happy" to a reggae beat.
Governments seem to be transitioning to a new fiat system, where they just spend the money into existence, without even acknowledging the debt. Except as a bookkeeping entry.
Once the realisation of this process becomes widespread, .Gov will gather even more power to itself, as everyone crowds around with their hand out waiting for some crumbs.
Sovereign Debts can't be repaid therefore they won't.....but .....It may not be as simple as case of hyperinflation or default. .GOV plans to always be there spending spending spending, and on the other side of that unfortunate trade will be consumers trying to pay down 30 years of household leverage.
A quickening process of further concentration of power and capital upwards, towards the eagerly awaiting open hands of the smiling money changers...
Shin Chan's got ya covered... :>D
And what is even more unbelievable is there are actually buyers for the Jap 10 year paying=wait for it- 0.61%- "Gee Wilikers Wally a whole 61cents" Now easy there Beave, don't go down there and blow it all on penny candy, you might ruin y our dinner" AHAHAHHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
Oh and that Bastion of Breadlines Spain 10 year 2.88% last i checked
And lets not leave out good ole Uncle Sambo at 2.59% wow. where do I sign?
We have truly entered a GLOBAL LOONEY TUNE LAND. abadee, abadeee, abadee="Thats All Folks"
Insanity peaks (peek-a-boo) just before the rush to the exits.
Horrendous growth drags yields lower.
If there's no demand for loans, you can't raise their price.
I believe people will hold bonds with a negative interest rate if that is what they are paying.
Yes they will go negative. But its not people who are buying them. These western global central banker idiots have all lashed their selfs together to try to continue the charade a few more years and praying global growth picks up somewhere so they can bail the others out. Is a Big Giant Cirle jerk. Begium and EU CBs buying all the UST they stand, the miss Wantabe of Japan is buying EU bonds hand over fist. I dont know who is buying this Japanese trash but I can imagine its not the Japanese citizens as we are being told and probably being done in shadow banking. Someone from the US or Brussels landing in Tokyo lately?
Dear Japanese Central Bankers,
We have provided for your staff perfectly good Hari Kari knifes with a full expectation that if the need arises that they would be available for you. And knowing how important it is to your culture to "Safe Face"........well yes its the only honorable thing to do. Plese feel free to pass this letter along to the managers of Teppco.
If the currently circulating Yen note still has less zeros than the postage stamps, you could take the liberty and fire a cc to Von Rump Roast and the Dragman over in Europe also.
And don't be google worldin carrier locations like the last time. I have kinda grown tired of island life, and you can only do the coconut and banana thing for so long before their effects become known.
Your most humble associate
Cow
Sure. Why not?
As long as they are more negative next month, you make a profit.
That's a good answer. I was going to say Sure, why not, if you know there will be no more growth? Yours provides better clarity.
where did all that money go?
Blow and Whoes? Excuse me, Blow and Geishas.
Carry trades that went to other economies would be my first guess.
5 million barrels per day of the good stuff at $108 Brent per b -- out exhaust pipes.
They converted those yen to dollars in order to buy that oil.
This is getting more amazing every day. Not the money stuff. That can be defined by decree.
No, I mean why are the Saudis taking that shit and sending them something that has actual value. They should be just leaving that underground for the next generations. If Japan wants it, they can send rice, or geisha girls or something. Something that would have actual function in society.
There will be no negotiation with Terrorists...
I guess the Saudis turn around and buy something of value like weapons, planes, funding who-knows-what in other non-friendly nations, etc. My understanding is they don't much care what happens to their people/society.
The Saudis keep taking USD in exchange for 'their' oil because if they don't, the US will give Al Qaeda all the weapons and support needed to overthrow them and install a more compliant regime. The same goes for any of the OPEC dictatorships, oops, my bad, I meant monarchies.
The ironic thing is, the more unpopular a regime, the more tenuous their cling to power, the more the US can depend on that regime doing what they're told.
War by political means. The political enemy of my political enemy is my friend. My dear, close friend. Until,......
amongst other things, it went on establishing the japanese car industry with a subsidized exchange so that every other countries car businesses (except germany's) went bankrupt. it also went on bailing out banks that collapsed at about the same time as the nikkei (peak 39,000 v 14,000 now, albeit off a low of 8,000 a few years ago).
it also went on protecting rice production at home by paying massive subsidies for domestic production and preventing any immigration so that Japan's racially and sexually bigoted (over the hill and zombie like) poltiburo could continue to support its own family businesses with transfers from tax payers.
what it couldnt raise in taxes it financed gradually with 5-7% fiscal deficits for a few decades.
sound familiar? pretty much like the socialist government in US and Europe, mind you the japanese are way ahead of the decadent and uncouth west in terms of aging demographics, welfare spending and of course, living beyond their means by actually producing nothing much that anyone wants (unless it is subsidized so that people can afford to pay - as in vendor financing).
just another mobocracy, or should i say "yakuzocracy".
Isn't it odd that QE from one country actually detracts from the QE of another country since its purpose is to create an unfair adavantage for the QE'er? bleh
I dunno. It's pretty tough to think of any consumer product that the Japanese make that anyone else makes better. I don't buy Toyota or Honda because they're cheaper than Chevy or Chrysler. I buy them because they are vastly superior. Compare a Harley with a Yamaha or a Honda. Harleys are overpriced, unreliable, shakey junk by comparison.
The Japs kill us 'cause generally speaking, they make better products. Or at least they used to.
Then we shouldn't complain when we have no jobs....I mean after all, we drive superior cars that we just can't pay for anymore. MOAR public transportation
I buy American, when I can find it, when American is better. Tools, speakers, appliances, and a few other things are still best when US made. Unfortunately, when it comes to cars and motorcycles, Japanese are the best.
However, if the Japanese ever decide to market 3/4 and 1 ton full size diesel powered pickups and SUVs here, you can kiss what's left of the big 3 goodbye.
just bought a ram 3500 diesel and am fairly impressed. American cars are catching up.
Spending more money on inferior products actually destroys capital. Money you spend on inferior US-made goods is money you haven't got to spend on decent US-made goods.
Furthermore, if 'we' hadn't imposed the USD on the world via Bretton Woods back in 1944 and establishing the petrodollar back in the early '70s, the Japs would only be able to spend the USD on US products and services.
As it is, it is impossible to have the world's reserve currency and have anything other than a trade deficit. (Triffin's dilemma) Great if you're in the 0.01%... not so great if you're a working schmoe.
I have an 2008 IS-F, 2005 LS400, 2009 IS250 and and 1996 SC300 on the way for my son and it's not because i'm looking to make some sort of economic statement to my neighbors, it's because those cars run forever with minimal maintenance costs.
Bullish!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
No problem do what we are doing. Let in 20 million illegal aliens, and collateralize them at 750k each (like we do) and voila, 15Trillion more you can borrow from the fed.
You don't own yourself -- the Federal Reserve does.
http://www.viewzone.com/collateral.html
BITCOIN!
https://i.imgur.com/S7mGtP3.png
The steep incline of the graph reminds me of the Eiger Sanction ( very few of the climbers survived that. . )
Looks a bit like the US debt charts too...
It looks like the 2012-2014 surge put the balance sheet back in trend.
When the 1/2 life of the country is only 30 years, it's time to pull out all the stops
I want to print money damn it.
Move to Canada.
Time for Seppuku.
It's the only honorable thing to do.
Japan Debt Update: ¥1,020,000,000,000,000
Tepco “Total tritium in Fukushima : 3,400,000,000,000,000 Bq”
So sorry. Preese no worry.
I love the smell of Ponzi Scheme, Central Banking systems in the morning!!
The more the merrier! No?
And total US debt, public and private, is what?
Our turn is coming.
Gold and silver bitchez!
"'They will throw their silver into the streets, and their gold will be treated as a thing unclean. Their silver and gold will not be able to deliver them in the day of the LORD's wrath. It will not satisfy their hunger or fill their stomachs, for it has caused them to stumble into sin." - Ezekiel 7:19
A preview of things to come in the US. The question always is: how long will the consensus support the current system?
As wealth accumulates in fewer and fewer hands, those hands want the status quo. If confidence in the system remains even if the National Debt is $1Gazillion, it won't matter. Things can chug along.
The more money around, the more weaponry and force that can be used to perpetuate stasis.
Until people have no food we can rock along indefinitely.
"If confidence remains...."
I don't believe things will be able to keep chugging along as long as you do.
:)
Legalize more dope, confused is the new confidence. When it comes down to it, it really doesn't take much to distract us or just buy us off for while.
Japan is the US Federal Reserve's grand printing experiment. Once Japan does Zimbabwe, the US isn't far behind.
Remeber when we would say with amazement, "That's Billion with a B" ? I guess Q is the new B. That's Qaudrillion with a Q. Once debt reaches Avagadro's number ( roughly 6 with 23 zeros after it) the universe will collapse back on itself. We will all be really, really close to each other and Central Bankers will be telling us with just a little more QE they can reinflate it...or at least bring it in for a soft landing.
Googolplex.
Even moar hockey stick. Hockey stickier?
Good thing size does not matter in the new normal... otherwise, they and us would be fuked in a big way.
Should turn out good for them.
Quadrillion!!! What a fantastic number!! QUADRILLION!!! Hahahahahhahahahaha (were so fucked).
Almost as big as the total interest rate derivative exposure of all the major TBTF banks. All is well.
For sure! Can't remember the exact figures, but top 13 banks rocking 6/700T deriv. exposure? Big badda boom.
What comes after Quadrillion? That should be in a few weeks. Is it Quintrillion?
Egads.
And yet, even with the bullshit numbers we use here in the US regarding the US debt, when one factors in the difference in currency value, the US STILL has more debt.. (the equivalent of like 1.6 quadrillion yen)
Then, factor in all of the unsecured liabilities we would need to multiply that figure by like 80 or more...
Something tells me that Zimbabwe is closer than people think, just sayin.
Could you put those numbers in ounces of gold please...
think nanotechnology
What is next after quadrillion? For that is surely on the way.
Quintillion. What the Rothschilds are worth (j/k).
LETS DROP NUKES ON IRAN TO SHOW JAPAN WE ARE SERIOUS ABOUT THE FUCKING MONEY BITCHEZ
The effect of a lower yen on exports is beginning to wane. When the yen drops faster than the Japaneses stock market rises it will no longer protect the wealth of those invested within its borders. Japan is the most indebted developed country in the world and its future prospects are dim and getting worse.
It is only a matter of time before the yen becomes worthless and as inflation begins to take root it will place upward pressure on Japanese bond yields and raise the cost of government to service its massive debt.It appears domestic investors have already started venturing overseas for higher yielding assets. When this turns in to a tsunami of money fleeing Japan it will constitute the end of the line for those holding both JGBs and the yen. More on this subject below,
http://brucewilds.blogspot.com/2013/08/japans-economy-going-forward.html