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Japan National Debt Rises To New Record ¥1,057,224,000,000,000
The first half of 2015 saw Japan's national debt rise at its fastest pace in four years, hitting a new record high at ¥1.057 Quadrillion!! Have we reached Keynesian nirvana yet? Or is just a little more "what difference does it make" debt-fueled fallacy going to fix it all?
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Is that 1 Godzillian yen they have in debt now?
pods
Cue Mothra.
Without China, Japan have no future.
Japan is the US bitch
Japan has no resources
Japan runs a Viagra QE since the 90's
work them to death
I do feel a little sick to my stomach when I stop and think about what the Japanese are doing to themselves, and it's basically all to help the U.S. monetary system.
Wait for Krugman: Japan needs to deficit spend its way out of this situation.
Plenty of digits left. Get busy Mr. Yellin.
= about $10 trillion. Very bad considering the size of their economy (4.2 Trillion). Our economy is bigger (15+ Trillion) but so is our debt. I wonder if they are counting unfunded liabilities in this figure for Japan. If not then that is really bad.
That's what I was thinking, too. Plenty of numbers left between here and infinity.
I hurt my neck just reading that number!
Is there someone I can sue?
Wait till the 3rd arrow comes, then things will get better.
The United States of America became the architect of the post-World War II society that we all now live in. Western Europe & Japan were among the first to be "enlisted", so to speak. After the fall of the Soviet Union, the American corporate-capitalist model went virtually global. Recall this famous song by Rammstein, "Amerika":
https://www.youtube.com/watch?v=4NAM3rIBG5k
Fuckashit!
You're all worried about nothing - it's only a number. Here's another TOP-1 or maybe the IEEE have the answer?
0x7ff0 0000 0000 0000 (hexidecimal)= +Infinit
0xfff0 0000 0000 0000 (hexidecimal)= ?Infinity
"Je suis Taint"..
Or I am Cait...
A quadrillion Yen economy in an Orwell kinda way.....
Remind me again, what is their GDP?
Their GDP starts "once upon a time"......
Pretty fitting seeing all those cartoon girls in Tokyo that their radiation seems to produce.
pods
Rule 34
"Your'e worth what you owe".
Clearly, most of you folks are not aware that the more debt you have the richer you are
Let Pete Stark 'splain it:
https://www.youtube.com/watch?v=UjbPZAMked0
What a prick. It's like teasing a rabid dog.
Marc Faber explains Japan:
Then, have a look at Japan, the Japanese situation is very serious in the long run because if interest rates, they are now on 10 years JGBs 0.03% but already at these very very low rates, Japan pays, I think close to 45% of tax revenues go to payment of interest on the debt. Now if the interest rates went up on JGBs to say 1%, all the tax revenues would have to be used to pay the interest on the debt! In my view, Japan has no other option but to print money or default and that will then imply that the Yen will then become weaker and so forth.
I mean the whole system in the world is in a complete mess.
But so far the central banks and the authorities were able to paint fresh paint on the cracks and so they are not that visible. And don’t forget; who actually has something to say in economics? Most of the people are university professors but they are somewhat linked to the Federal Reserve or to another central bank through consultancy arrangements and so forth.
Basically they are bribed to support the system
http://www.zerohedge.com/news/2015-08-09/theyll-blame-physical-gold-hold...
The Japanese are conditioned to believe anything, anytime, anywhere
I can't even conceptualize what that number even means, or, looks like. Its fucking goofy.
Think about the number one and then multiply it by 1,057,224,000,000,000
There does that help?
Oh fuck yeah!! cleared things right up! :)
there's not enough monopoly banks on the planet to cover that debt let alone "futures growth prospects"
If that was stacked it would be thousands of miles high.
You can stack digital currency?
Pffffft, Japan's problem is they are too afraid to do more. If only they added moar debt their problems would be solved. Don't ask me exactly how much will fix it, because the answer will always be moar.
Please do not worry
Economy great, Fukusheema fixed - Kuroda
Well, we were going to have children, but DEBT!
I was going to buy a new house, but DEBT!
We were going to see the new Spiderman movie, but DEBT!
These zero's hurt my eyes.
Like everything, it is only a matter of the monthly payment. As long as the BOJ can print enough to cover the monthly payment, where is the problem?? Prices of houses can go to near infinity with interest-only loans as long as the interest rate is 0.03%. Heck the interest on a Billion dollar house is only 300K a year at that rate - a piddly 25K a month!
WHO'S COUNTING?
The difference between Japan and US is that Japan's debt is held by the BOJ and Japanese pension funds, not foreigners. The BOJ has further allowed the pension funds to buy into their equity market for a return greater than zero and purchased their debt on the secondary markets. So, like our Fed (at some point), the BOJ will forgive the debt and start from zero. Listen to what's happening in Greece, "Debt Forgiveness" or default is the choice, debt repayment in Japan is mathmatically impossible.
Debt repayment in the US is also impossible. Or are they planning on starting soon?
Cool... so, USD 8.451 trillion debt to GDP of USD 4.210 trillion... is 200%
Forget the 3rd World, I'm moving up to 1stWorldTrillionaire soon enough, suckas!
I guess they are right. You CAN just keep adding more zeros.
They are going to need a bigger pocket calculator....qua qua qua...drillion!!!
And some people were impressed with Zimbabwe. Gideon Gono must be sweating it, some one is going to break his record and steal the title.
how much is that in Zimbabwe dollars ??
Doesn't this prove deficits don't matter?
Xoxo, Darth Cheney
If a debt gets so large it can't be repaid, is it still a debt?
I'll see your trillion and raise you a QUADRILLION!! I think I remember back in the 80's seeing a bumper sticker that said..."No Trillion Dollar Debt!" Ha, ha, ha. Who knew?
How much is that in ounces of gold???
A recent article outlined how Japan is painting itself into a corner and how this is being exacerbated by Premier Shinzo Abe giving indications of government spending out of control. Not only is the mandatory spending cap missing in his latest budget, but the draft is based on some rather optimistic economic estimates of future events.
When looking at numbers from Japan we must remember the depreciation of the yen mechanically inflates the revenue collected abroad when converted into Japanese currency. Exports, conversely, increased at an unprecedented pace since January (+ 9.5%), to 6.5057 trillion yen (52.5 billion dollars), driven by the semiconductor and automotive sector in particular. Thus while the yen total has grown is larger in terms of volume, there was a stagnation.
This will put the Bank of Japan under even more pressure making it difficult to expand monetary stimulus if needed. Japan's options are shrinking and "any" shift in monetary policy could cause bond yields to soar and create a panic. This is detailed in the article below.
http://brucewilds.blogspot.com/2015/07/japan-and-its-shrinking-number-of.html
Mastersnark,
Understand that the debt ALWAYS gets paid. The question is always, by who? Here in US, the principals usually walk, scot free while the debt gets hung on the taxpayer. This way, the banks are made whole regardless. Seems to work great for some....
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