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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.
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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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You just don't get it.
Nothing like parabolic debt. Or stupidity for that matter.
I'd also like to add that at this point:
1,020,000,000,000,000.00It's official that this entire fucking system is a complete fucking sham.
I have more to say on that but at this point it doesn't matter.
Something doesn't look right. Where's the hope and change.
Pls enlighten dudes, whats the Y-axis in BoJ balance sheet chart? Don't grasp those 0.1 M - 0.15M - 0.2M - 0.246M ??
Muppet here!
chart going up = good
chart going down = good
duh.. eithur way means more intervenshun by govt, uh.. which means by stoks! federal reserve tot me dat, i lerned so much from dem.
"rise in debt per capita" ??
Something doesn't look right. Where's the hope and change. Wait a minute. Those charts are based on fraud. They don't mean anything unless they disappear.
who cares...go spurs go!
i wasent sure until now i know war is comeing!!! they cannot repay so they kill off who they owe.
I was going to work up this... "You see tomatoes I see tamatas, potato potata routine" but I was going to substitute quadrillions and trillions or billions but, wait for it...
I called the whole thing off.
Clever!
Something doesn't smell right. And I think it's Fat Bastard.
http://www.youtube.com/watch?v=tNIfKjCEPq4
The post WWII Japanese miracle becomes a nightmare.
One day, somebody will write about it and identify the causes. Political elites will learn nothing.
There is a theme developing in many articles referring to ballooning gov't expenditures. That is that it it is the fault of an aging population. In this scenario quick math tells me that in the fiscal quarter mentioned each of the Japanese over 65 received 275,287 Japanese units in some sort of goody or cash. That's in 3 months folks, That's a million units a year folks. That's bullshit folks. If it were true, that it were actually going to these folks, we would be experiencing a true trickle down as those people would be so flush with health and cash that they would be spending their way to blissful everlasting economic recovery. NOT. No sorry to say the money has likely gone down the dark hole wherein lies your typical money junkie crony capitalists and bankers.
In ten years, thats what the Japanese cancer rate will look like.
Remembering some of the stuff I learned about Japanese Business Etiquette, if somebody in Japan says the situation is "very severe" it's not really the same as when somebody in the western world says the exact same thing. Nobody over here in the US or Europe seems to understand! What the finance minister of Japan is basically saying is: "we're fucked - no repair possible!".
But wouldn't it be logical that the government debt bubble starts popping in Japan after all those years? Then soon after the corporate debt bubble will be popping in China. A week later the Euro is history. And then another couple of weeks down the road after Janet will have announced to print 1 trillion USD in one month to save the world economy ("people don't have an alternative anymore!"), the fiat bubble will burst. Or did I forget something in between?
Meanwhile on MTV: "Happy happy happy...." "Clap along if you feel like happiness is the truth"...
So how can Japan be the World's largest Creditor and the largest Debtor at the same time?
Godzilla and his children, Godzillions, will save us!
You are correct, but it is pronounced "Godzirrions".
"Deficits don't matter"
Dick Cheney
How's that Abenomics fuckery working out for ya now, huh?
Put the US balance sheet up along side this one and tell me how much better are we?
No other way to explain this. Welcome to the fight club.
Pixies I Bleed
Met Frank Black a few times. Nice guy.
"I Bleed"
there's a place
in the buried west
in a cave
with a house in it
in the clay
the holes of hands
you can place
a hand in hand
in bleed
Sustainable, nothing to see
"New economic model"
Where have I heard this before? Just before the pop of the Tech bubble.
Central banksters want to sustain an infinite debt model.
Lookin' good!
"With a purposeful grimace and a terrible frown, he pulls the spitting high-debt economy down..."
This coverts to $10 trillion. Our national debt is $17.5 trillion. If we don't do something qucik, they are liable to catch up to us.
FIne, they are off the clip now?
That's a lot of digits.