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What's the point of even commenting on this unambiguous Keynesian nirvana?
Source: Japan Ministry of Finance
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But when is it TOO high?
About 1,053,400,000,000,000 yen ago.
So that is like a Googleperplexed Yen?
Is that funded or unfunded?
You haven't seen anything yet. What comes after a quadrillion?
Soon they will have to start using exponential notation.
Quintillion is next
Don't Fret So Much... It's Not Like This Quintillion Keynesian Fiats Shit Is Backed By Real Actual Physical GOLD.
How much is that in Lira?
Please, do not worry.
That's nothing compared to the US debt measured in 'cents'.
and the purchasing power of your one cent coin, multiplied by 100 is ????? The answer is 3% inflation annually since 2000 now leaves you with a price index of 140, compared to 100 just 13- 14 years ago. And the FED says we need more inflation!
The traditional fix to this problem is to rebase the inflation index, such as "in 1967 dollars". Officially now, from Census.Gov:
The Census Bureau uses BLS' experimental Consumer Price Index (CPI-U-X1) for 1967 through 1982 and the CPI-U for 1983 through 1998. The Census Bureau derived the CPI-U indexes for years before 1967 by applying the 1967 CPI-U-X1-to-CPI-U ratio to the 1947 to 1966 CPI-U indexes.
Logically then, we should expect a new re-basing at on or about 2018, based on the typical 20 year period (since 1998).
Imagine the dollah devalued by one hundred.
Whatsinyourwallet?
But gold is backed by nothing. I saw it on that internetz thing invented by Algore.
A Brazillion. Which reminds me of a joke:
The Chairman of the Joint Chiefs walks in and tells Obama, "We lost two Brazillians in combat against the Taliban yesterday". Obama looks sick and paces back and forth repeatedly. The CJCS thinks this reaction is a bit odd, but is somewhat moved by Obama's unusual sympathy. It continues, however, to the point where Obama is in a near panic. Finally Obama breaks and asks, "Chairman......how much is two brazillion??!!"
Good one + BTW a quadrillion in seconds of time =~ 3,200,000 years! Now that is a big number.
Dr. Evil: ...... unless the world pays me one Quadreeeelion Yen!
Number 2: Um, Dr. Evil, a quadrillion yen really isn't all that much money any more.
They need to do a currency split
Ayn Rand maybe right this doesn't stop until producers actually quit, I notice that graph flattens 2009 the year Toyota halted production.
1,053,400,000,000,000 Japan Debt in Yen
8,852,100,000,000 Japan Debt in Dollars
4,901,000,000,000 in Dollars Japan GDP (2014)
Per Capita Income 36,899. Debt 99,725. In Dollars.
21,420,000,000,000,000 US Debt in Yen
18,000,000,000,000 US Debt in Dollars
17,000,000,000,000 in Dollars US GDP est. (2014)
Per Capita Income 26,695. Debt 54,650. In Dollars.
Theirs’ is bigger but we are catching up.
Print Gram, print. Winning!!!!!
^ This to me screams the fact that we've got a looong way to go.
Japan's been playing this game a long time. They've set the precedent.
2008 USA = 1990 Japan
2015 = Japan 25yrs in with no end in sight
2033 = USA 25yrs in...
why don't they express it in bitcoins?
Great perspective. I think you have one too many digits in "US debt in Yen", but then again, what difference does it make; and that's the point. Oh, and fuck you Hillary, wherever you are, chillin' with regular folks.
199 yen to the dollar. Calc ran out of digits. So maybe....
keynesians love a parabolic chart. it is an erection by proxy.
Ooo... You're a bad little chart aren't you. You need to be spanked.
Dead Canary,
Love the name. We might be related. Do you have ass monkeys, too?
"If your erection lasts more than 4 decades please call your doctor immediately"
Now THAT is funny!
If that's a parabola I'm a pretty princess.
Here, please try on this glass slipper.
Wee Too High
Ho Li Fuk
Sum Ting Wong
When Japan's trade deficit is too high ... the actual number of the debt has become irrelevant. The old saw about monetary expansion being a way to "confiscate, secretly and unobserved, an important part of the wealth of their citizens" is pretty much ancient history in Japan now. They've been there, done that, got the t-shirt and moved on. At this point in Japan it's probably more accurate to say QE is simply a form of taxation, not even stealth taxation ... but simply taxation.
Needs to print some moar!!!
Krugman just made the O face.
The bearded potato has an O face.
I'm selling my Nobel Prize on Ebay, 10 bucks or best offer.
Is that curve starting to flatten on top? No. No, I guess it's not.
Looks like every other country with a central bank.
They're going to rasie rates any day now, I just know it....... still waiting........ getting sleepy......
Chump change.
how much is that in real money?
Something like 238.72 bitcoins, plus or minus
zillion x zero = ????
Calling Dr. Yen Cross .... your patient is on life support !
1.053 Quadrillion Yen. Pfftt. At 100 YxD that's 10.5 trillion bucks. Don't worry, the YAY YAY USA is way in front.
USA! USA! USA! Woooooooooot!!! We're #1!!! Yay!!
I don't even know how to pronounce this number and I have a PhD in mathematical physics.
Even Milton-Bradley did not print as much money in the history of its popular Monopoly game.
(And the Yen is worth as much as Bradley Bucks)
Scientific notation is the way to go:
1.0533572*10^15
There needs to be a lot innovated in number pronouncation soon.
Does that include the money that will be lost on the Olympics?
NOW I get it! If Keynesian policies WORKED, the national debt would be going DOWN, not UP! (You know, more jobs, taxes paid, that sort of thing). Hmmm, but, the U.S. National Debt keeps rising too.....does that mean.....NO! Somebody get Mr. Yellen on line 1!
Monetize that shit!!!
So what's the problem? Just keep right on doing it, no one cares it's only debt that can not be paid.
Just like Amerika! If we try harder we could break through 20 trillion very soon! Go team!
"it's only debt that can not be paid." wmnz
Nonsense. Japan, being monetarily sovereign, can repay ANY amount of debt owed in its own currency. Indeed, Japan has no need to borrow at interest in the first place. That it does so anyway is welfare for the rich and the banks.
The US is likewise monetarily sovereign so the same arguments apply.
The difference being they owe the money to themselves, we on the other hand owe money to other countries, which means those creditors have a larger say in our monetary policys, their creditors don't have a similar say in monetary policys. See the difference now?
The debt can be paid with non-interest bearing fiat in either case, domestically or to foreigners.
Isn't printing fiats to pay down previous debt sort of like cyclical redundancy to infinitum or something like that?
Even 0% paying fiat is government debt (government must accept it for taxes) so the debt aspect CANNOT be avoided. What can and should be avoided is paying any interest on that debt. Indeed, NEGATIVE interest rates make sense to cover risk-free storage costs.
PIKERS! That's only about 8 Trillion or so in US Dollars. heck, Our Debt is 18 TRILLION!
There population is one third US. I think they are million yen a person now.
USA . . . USA . . . USA. .
Thats 1.053 quadtrillion or 1000 times of one trillion. Do I get a price?
Yes, you get to teach arithmatic to all the Keynsian economics.
Do I get a prize?
Sure, Nobel Prize or participation trophy, take your pick.
No wonder America is not worried.
I would hate to write that on a check.....but this is the Central Bankers plan....just print and spend to cover all expenses.....the whole Western world will do this until they own everything....then that will be strange ...and it might all end there
" Humans don't do quadrillions of anything – at least not usually."
http://moneymorning.com/2013/09/18/heres-what-1-2-quadrillion-looks-like...
I bet the Japanese have the same problems as the US. I bet there are a few dastardly conservative folk who are standing in the way of the gubmint cranking up the debt to where they REALLY need it to make their Keynesian system work! Those rascals.
I remember in grade school joking about something being in the quadrillions. Well done Japan. If Japan wants to ensure its citizens it is on the right path, they should go talk to most South American governments and citizens beyond the age of 50 who live through their government's vast printing of money.
When industrialized western democracies print nothing can go wrong, right?
Is that cuz america has union pressmen running the printing presses?
Is it quadrillion? I don't even know
1.0534 x 1015
I'll just call it thousand-trillion
BoJ members buying up all of the 50 character Hello Kitty calculators.
a trillion here, a trillion there, pretty soon your talking about real money.
I'm quite relaxed about the whole situation. I have a sixteen digit calculator which I had to order from overseas.
It's quite telling how a virtually zero interest rate policy can generate such unlimited debt.
that's a lot of zeroes. is that quadrillion?
a cardinal number represented in the U.S. by 1 followed by 15 zeros, and in Great Britain by 1 followed by 24 zeros.
They need lots of reserves to back their inverse radiation derivatives.
Is that the equivalent of 'carbon credits'?
Similar in concept.
The US and Japan, two fat slobs sitting across from each other complimenting each other on how good they look.
Indeed what is the point of commenting? You are always wrong. Doesn't stop you from commenting anyway.
I'm confused, is the ZH header wrong, or, are you just being an arrogant prick as per usual.?
Twiddle me quintillions this bitchez. How many decimal places to the left can modern computers handle? Ok, how many to the right?
just guessing here to annoy the math majors lurking about, but I'll bet a pint on tap that the number is infinite if you will consider that you can use scientific notation with logarithms raised to powers upon powers: an elementary example: 16 = 2^2^2 = 2 cubed (no more superscripts in Zerohedge, they've gone "diminimis.") For English majors, the answer is googleplex to the googleplex to the ..... and so ad infinituum. :)
Why is everyone so worried? There is PLENTY of room to grow!
Million
Billion
Trillion
Quadrillion
Quintillion
Sextillion
Septillion
Octillion
Nonillion
Decillion
Undecillion
Duodecillion
Tredecillion
Quattuordecillion
Quindecillion
Sexdecillion
Septendecillion
Octodecillion
Novemdecillion
Vigintillion
Centillion
See, no problem! If the numbers already exist, why not put them to use like a good Keynesian?!!!
And the final Nopaybackrillion!
What is the nature of the debt? Is it private debt or public debt? Who holds the debt instruments? Are the debt instruments demanding usury from the productive? Are the debts trying to recall general purchasing power from the transaction part of the economy? Do the debts have a time function, or is the time function being ignored via state power?
Is the usury on the debts being recycled back to the transaction economy or are they vectoring to Oligarchy?
It is much more complex than just posting a debt chart.
The debt/credit money system used Keynsianism as a stop gap to make it function. States would borrow from Central Banks, and hence public debt would grow so that private debts would decline. Also, the private sector needed savings. Keynsianism also allows National Banks (not central banks) to spend debt free into the commons, so private debts can be paid.
Anybody who doubts this aspect of a credit money system and its functions should read up on Wynne Godley's sector equations. If we don't want a debt money system, then change the damn system.
I personally favor Sovereign money. It is a simple law change, but unfortunately our Political establishment consists of monetary retards, and usury funded shills.
It doesn't help when ZH prints "the sky is falling" debt articles that have no context.
www.sovereignmoney.eu
Debt bought by the government itself, which will never come onto the market is not real debt.
I knew something was wrong in the late 60's. We were in Japan and went shopping downtown. My dad handed me a handful of change that looked like a bunch of flattened nuts and washers. It was funny money then and still is today. In Korea in '98 the stores wanted you to pay in dollars for merchandise priced in Korean won. I had exchanged my cash for won and they wouldn't take it. Some shop keepers angrily took it calling me " number hundred GI". You could buy and haggle for a lot of shit in dollars back when the Pacific Rim was burning down.
a million billion ... how do you call that ?!!!
alright guys we"re gona pay back a billion a day ... so all debts will be entirely paid back in .... 2.740 years (if no interests)
MWAHAHAHAAH
Whats that in Zimbabwe dollars?
http://rabble.ca/columnists/2015/04/can-courts-liberate-bank-canada
The Bank of Canada was established as a private bank in 1935 under private ownership but in 1938, recognizing that money should be created in the public interest, the government amended the Bank Act and turned the Bank into a public institution. The Bank was almost immediately harnessed to finance not only Canada's war effort (we ranked fourth in production of allied war materiel) but a long list of infrastructure projects including the Trans-Canada highway, the St. Lawrence Seaway, and over the decades, hospitals and universities across the country. It was mandated to lend not only to the federal government but to provinces and municipalities as well, with a limit of one-third of the federal budget and one-quarter of a province's.
It also created a subsidiary, the Industrial Development Bank, helping create the industrial base that recent Liberal and Conservative governments have all but destroyed through trade and investment agreements. The list goes on and on -- and includes social programs like the Old Age Security Act and programs to assist WW2 veterans with vocational training and subsidized farm land. The interest on its loans, of course, simply went back into government coffers.
But after nearly 40 years of this incredibly productive use of publicly created credit, unprecedented economic growth and increasing income equality, international finance got its chance to launch the free market counter-revolution against democratic governance. Stagflation -- simultaneous stagnation, unemployment and inflation -- was one of the first launching pads for Milton Friedman's radical free-market ideas: putting the creation of credit into private hands and creating debt burdens which would restrict the potential for democratic governance.
Freidman argued that stagflation was the direct result of irresponsible governments issuing too much money or borrowing recklessly from their central banks and sparking inflation. His radical free-market ideology was shared by the Bank for International Settlements (the bank of central bankers) and in 1974 it established a new committee, the Basel Committee, to establish global monetary and financial stability. Canada -- that is the Pierre Trudeau Liberals -- joined in the deliberations. The committee's solution was to encourage governments to borrow from private lenders and end the practice of borrowing interest-free from their own central banks. The rationale was thin from the start: central bank borrowing was and is no more inflationary than borrowing through the private banks. The only difference was that private banks were given the legal right to fleece Canadians. The effect of the change was to effectively take a powerful economic tool out of the hands of democratic governments.
Is that a Bagillion?
It ain't that high! To my count the debt pile is only Y$1,053,356,199,999,999.99!
I hereby decree that all national debts shall henceforth be measured on a logarithmic scale.
Time for the old 1 trillion-to-one quadrillion currency rollback to reduce the debt to a more manageable Y1,000 debt. Problem solved! Now u can borrow lots more too! Woohoo!
A quadrillion? Is that even a thing?
Oy. Let's get on with this travesty.
It's what happens when governments AKA a central bank start using then lose control of the Keynesian mechanism.
i think we are missing the point.
central bankers know about the discovery of faster than light travel to distant galaxies with immeasurable gold and mineral resources, so infinity is now finite and they are simply getting the stock of money ready to "monetize" future inventions.
ponders whether i can get robots to do my work for me and still get paid if i put the robot in place before the company does...