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Japan Will Raise More Cash From Debt Issuance Than Taxes For Fourth Year In A Row

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Mon, 12/26/2011 - 10:51 | 2011685 Fips_OnTheSpot
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Look, all that deflation and deleveraging over the "developed" world. </sarc>

Mon, 12/26/2011 - 11:28 | 2011732 Chris Jusset
Chris Jusset's picture

Japanese Finance Minister Jun Azumi said:

"I think the reliance on bonds to compile budgets is reaching its limit.

 

D'ya think?

Mon, 12/26/2011 - 12:01 | 2011767 WestVillageIdiot
WestVillageIdiot's picture

He forgot to add on the part about, "but we have absolutely no intentions of changing what we are doing.  In fact we are exploring ways to collect even fewer taxes and create even more bonds.  Heh, we are the government and that is what we do, bitchez."

Mon, 12/26/2011 - 12:49 | 2011832 sun tzu
sun tzu's picture

I don't think tax revenue is the problem as Japan has the highest corporate tax rates in the world and a 40% tax rate on the wealthy 

Mon, 12/26/2011 - 12:59 | 2011845 merizobeach
merizobeach's picture

Anybody know how to say 'quadrillion' in Japanese..?

Well, I couldn't wait, I had to look it up..

"Sen chou".  Literally, 'thousand trillion'.  Good luck with that, Japan.  Say, could I borrow a quick quadril, too?  Even at punitive interest rates, I don't mind.

Mon, 12/26/2011 - 22:07 | 2012540 New_Meat
New_Meat's picture

nun'desk'a

Mon, 12/26/2011 - 13:30 | 2011883 disabledvet
disabledvet's picture

unsustainable indeed then since how can they raise taxes to compensate? Both the short AND long answer is "Japan cannot do that." With the sudden emergence of a trade deficit in Japan...how is "Japan the country" being financed? If you say "via China like everyone else save the USA" then i think you go to the head of the class.

Mon, 12/26/2011 - 13:58 | 2011937 midtowng
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And yet corporations and the wealthy aren't fleeing Japan. Funny that?

Mon, 12/26/2011 - 14:38 | 2011983 sun tzu
sun tzu's picture

They are fleeing from California. Nothing could be more rewarding than giving a huge chunk of your earnings to to the corrupt oligarchs so they can buy votes and spread the wealth to their cronies. It's amazing how people can be so stupid.

Mon, 12/26/2011 - 12:03 | 2011770 BandGap
BandGap's picture

Thing is, when Finance Ministers start uttering these words they are in deep shit.  It takes a freakin' lot of crap to make them abandon the "all is well" line of bullshit.

more bad

Mon, 12/26/2011 - 12:46 | 2011826 MobBarley
MobBarley's picture

Interesting that your name is a scrambling of Jesus Christ with a mushroom cloud icon. Perhaps you think that Christianity is a 'Death Cult'

or some such. In fact, Christianity is a strong proponent of life.

Just thought you'd like to know.

 

Mon, 12/26/2011 - 15:10 | 2012044 Lost Wages
Lost Wages's picture

Before the creation of the United States, the Catholic Church probably murdered the most people in the world. You can say, "That's the church, that's religion, that's not Christianity." Bullshit.  The Old Testament advocates loads of violence. The New Testament is practically a treatise on death anxiety and what happens to you after you die. All in all, the Bible advises us against self-defense, telling us to turn the other cheek and take a beating from life, unless someone bigger and more powerful tells us to do otherwise. Then it's OK to go to war and murder thousands of people in the name of god.

You choose selectively what you think Christianity is. You choose whichever facets of the ideology comfort you personally, based on your imagined mythological reality, then try to push that on everyone else. I'd love it if the world could keep their storybook characters and imaginary friends out of discussions about stark reality, but I also know that is too much to ask of most people.

What's even more confusing is how many anarcho-capitalist Libertarians worship Jesus, the most Communist, collectivist, egalitarian character to ever transcend meme to archetype. You can trust me when I say Ayn Rand had no love for Jesus. Obviously laizzez-faire capitalism needs temperance from social liberalism, or we'll just be returning to cave man days where we beat each other over the head with dollars instead of a wooden club and steal each other's shit. The argument between Capitalism and Communism is basically, "Who gets to fuck the poor worker in the ass harder? Government or Corporation?" My answer is neither. After all, what is the difference? An omnipotent power at the top of a hierarchy is always a tyrant. Fascism is always fascism, no matter what lipstick you put on its piggish face.

Destroy money. Destroy the economy. Alan Greenspan is the reincarnation of Jesus, creating infinte food out of a few loaves and fishes. Merry Xmas.

Mon, 12/26/2011 - 14:30 | 2011973 Caviar Emptor
Caviar Emptor's picture

I theenk we need a beeger box....

Mon, 12/26/2011 - 15:30 | 2012064 Zero Govt
Zero Govt's picture

in Economic Doctor parlance the patient is dead

Jap Govt RIP

Mon, 12/26/2011 - 10:53 | 2011688 GeneMarchbanks
GeneMarchbanks's picture

Since we're all engaged in this, let's just call it the "new norm" and move on...

Debt forgiveness or trade war that spirals into real war, choice is yours citizens....

Mon, 12/26/2011 - 11:18 | 2011721 Oh regional Indian
Oh regional Indian's picture

Gene, odds on it seems war is the likely outcome.

Thing is, so much tension has been built into the Islamic world's fabric through actual, senseless carnage and in the white man's world through fear mongering and false-flags.

This much tension will release either through uniting behind a huge, planetary catastrophe (NWO wet-dream) or War.

Interesting that we get to participate in such momentous times. Awesome, eh?

ori

/the-plan/

Mon, 12/26/2011 - 11:35 | 2011740 GeneMarchbanks
GeneMarchbanks's picture

ORI,

Take a peek at the discussions on these boards. Everyone is now an expert on places where they do not reside. They claim to 'know' with who the blame lies so-to-speak. "EUrope is done" "Japan is kaput" "China is popping". Meanwhile the matter is very simple, we've reached global debt saturation. No more. Minsky moment dead ahead. You want to hear the horrible truth of the matter? Each one of us is to blame. For generations no one has done the work of 'citizenship' in their own back yard, locally, state/district or federal. In these times, it's all too easy to take citizens attention off of the policy-makers and moneychangers who peddle the debt.

Yet, I (maybe naively) still believe that war is not a foregone conclusion.

Mon, 12/26/2011 - 11:40 | 2011746 Oh regional Indian
Oh regional Indian's picture

Agreed Gene. We've all eaten at the trough so to speak.

But the war part... it's a simple matter of energy. Oppress a population enough, condition with daily doese of violence and cheap alcohol....bingo....you have a UK at your hands. Seething under a thin veneer of warm varnish.

One way or another, people seek scapegoats.

So, unless Gaia delivers a big swift kick or we go at each other once again for the Oily Garks.... some debt AND destruction ahead, no doubt. 

We all need to practice detachment...

ori

/the-practice-of-detachment/

Mon, 12/26/2011 - 11:51 | 2011759 GeneMarchbanks
GeneMarchbanks's picture

From The Coming Insurrection:

No social order can securely found itself on the principle that nothing is true. Yet it must be made secure. Applying the concept of “security” to everything these days is the expression of a project to securely fasten onto places, behaviors, and even people themselves, an ideal order to which they are no longer ready to submit. Saying “nothing is true” says nothing about the world but everything about the Western concept of truth. For the West, truth is not an attribute of beings or things, but of their representation. A representation that conforms to experience is held to be true. Science is, in the last analysis, this empire of universal verification. Since all human behavior, from the most ordinary to the most learned, is based on a foundation of unevenly formulated presuppositions, and since all practices start from a point where things and their representations can no longer be distinguished, a dose of truth that the Western concept knows nothing about enters into every life. We talk in the West about “real people,” but only in order to mock these simpletons. This is why Westerners have always been thought of as liars and hypocrites by the people they’ve colonized. This is why they’re envied for what they have, for their technological development, but never for what they are, for which they are rightly held in contempt. Sade, Nietzsche and Artaud wouldn’t be taught in schools if the kind of truth mentioned above was not discredited in advance. Containing all affirmations and deactivating all certainties as they irresistibly come to light-such is the long labor of the Western intellect. The police and philosophy are two convergent, if formally distinct, means to this end.

Alcohol and television are not a staple of the West anymore, ORI, as you well understand. It goes even deeper, as the young have demonstrated well enough(quote above), it is now the philosophy of cruelty that is taking over...

 

Mon, 12/26/2011 - 12:10 | 2011778 MsCreant
MsCreant's picture

Post modern, radical relativism if you like, is really abused and misunderstood. In philosophy there is a tension between what is solid and what is percieved: Nature/nurture, Structure/Agency, big T truth and little t truth, determinism/free will, I could go on way too long. It is always there. Words point at things but the words do not absolutely embody those things. When something is named, it is limited in what it is permitted to be, but it is also enabled to be. Post modern just asks us to hold on to our sensitizing concepts lightly because words can be hegemonic and fascist. It asks us to consider "context." It asks us to know that there is always something being pointed at with a word, but the pointing is incomplete. There is truth though. The abuse of the idea is to take the statement that there is no such thing as truth and to make that one solid and obdurate as opposed to holding on to it loosely as well. Many modern deconstructionists are coming around full circle and deciding things like the concept of Justice are solid and real. Go figure. PoMo is taking an ass kicking because folks cherry pick it and those cherry pickens (so to speak) become representations of what PoMo is. In being misunderstood, the critique of it is representing the very process it protests.

Mon, 12/26/2011 - 12:28 | 2011806 JOYFUL
JOYFUL's picture

MsCreant said:

 

Many modern deconstructionists are coming around full circle and deciding things like the concept of Justice are solid and real. Go figure

Nice to see you back MsCreant.  Regarding your statement as quoted, you must realize that many, many of the most obdurate aesthetes, drug abusers, sensualists, radical artist types of the second half of the C19th (re)converted to Catholicism in the latter part of their lives....horrified by what they had both witnessed and engendered, they sought a portal back to the security which they had serially disparaged....there is literally nothing new under the sun.

The entire panoply of C20th pundits, having reached the logical impasse at the end of their yellow-bellied roads, sought\seek the same kind of remorseful solace in what they so joyously abandoned.  Nothing so barren as the Haunted Heart! 

On a long enough timeline, we are all once again humble fore our Maker.

Mon, 12/26/2011 - 12:36 | 2011817 falak pema
falak pema's picture

depends which brand you smoke...and never forget all brands are MAN MADE. For the rest...ask Aristotle. Metaphysics Bitchez!

Mon, 12/26/2011 - 12:55 | 2011839 JOYFUL
JOYFUL's picture

strange mood you be in today Falak - Can't make head nor tails of your witticisms...it's all Greek to me! 

Anyways,

Greets from neo-Byzantium&Roger de Navarre(had I the ZH-EUS like power, I would have posted the image of Christ Pantokratorfrom the Treasury of Chilander monastery on Mt. Athos here.......)

Mon, 12/26/2011 - 13:02 | 2011847 gmrpeabody
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What the hell is everybody talking about...

Mon, 12/26/2011 - 13:08 | 2011863 GeneMarchbanks
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'Zacly. +1 for you sir.

I made a point using(what I thought to be an innocent reference), but I struck a nerve of what I can only assume to be Western Academians who apparently have an opinion on the matter.

So far...

Mon, 12/26/2011 - 13:24 | 2011872 JOYFUL
JOYFUL's picture

sorry Gene, live several time zones east of y'all, and don't get much time to be 'academic'.....most of my time is devoted to cleaning out stables, and no, I don't mean of the augean kind...don't fret, it will all come clear...

on a long nuff time line!

*be careful of yur sumptions.  What we don't understand can be [poison] or [elixir]...depending pon our state of mind!

here be one for your state of soul bro!

http://www.youtube.com/watch?v=byuw6yG_AT4

Mon, 12/26/2011 - 13:39 | 2011904 GeneMarchbanks
GeneMarchbanks's picture

Wait a sec there. You realize I could be a migrant doctor working and residing in Cardiff, Wales or a simple young radical with lots of spare reading time in Riga?

Thanks for the tune, now I'm going to assume you're a New Religionist...

Mon, 12/26/2011 - 13:55 | 2011931 JOYFUL
JOYFUL's picture

way east of Riga bro...way east of where 'religionists' go; out of the ashes of west bashing east, there's a new man agrowin, what even Falak don't know....

 

We be survivors. Our ancestors started off from the Eurasian plain. Smart money is comin home. Two fresh mounts, gold in them saddlebags, New Testament don't add  a lot of extra weight. Christendom,  East and West,  will heal and join together once agin, we will Rise and Ride against the main enemy, and our brothers of the Book will cover our flank.  That aint religion bro, that's called SelfPreservation....

better git it in yur Soul!

Mon, 12/26/2011 - 14:23 | 2011963 GeneMarchbanks
GeneMarchbanks's picture

Only Mother Russia is east of Riga, so you've given yourself away:)

New Testament and Self Preservation?! Sheeet sign me up! Seriously though, you seem major league Confused.

Staying away from 'Soul' experts would be a start though...

 

 

Mon, 12/26/2011 - 14:53 | 2012011 JOYFUL
JOYFUL's picture

still off base sir: never been to Russia.

Eurasia is a big space....bigger than your current state of imagination it seems...I'm confused?!?!?

whose zoomin who?

 

 

Mon, 12/26/2011 - 16:11 | 2012118 falak pema
falak pema's picture

kazakhstan...or Samarkand. Bhutan would be perfect! 

Mon, 12/26/2011 - 17:58 | 2012248 gmrpeabody
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A truck-stop along Interstate 40 would be my guess, or someplace comparable.

Tue, 12/27/2011 - 06:29 | 2012919 JOYFUL
JOYFUL's picture

there are portions of Asia comparable to the Mojave, Peabody...congrats, your response was er, very well hedged.

Mon, 12/26/2011 - 14:08 | 2011909 falak pema
falak pema's picture

I know it was xmas yesterday; but God is not necessarily in the image of Abrahamic religions; who have so many ways of interpreting His Truth one feels like in the Knossos maze. You should be more charitable towards non believers that's my point. Or towards believers of "schismatic doctrines" relative to your beliefs, if you be believer. We all know that the essence of divine beliefs is to engender as inevitable knee jerk many who believe in a deviant dogma just as passionately. That is the believers paradox! 

So schismatic smokers and agnostic neo-spiritual smokers are all smokers of divine hopium of different brands. Just like the non smokers!

Greetings to Christ Pankrator of your choice. I have two in mind of Sicilian origin : Cefalu and Monreale! I Love em as human expression of spiritual art form  without smoking their brand, as divine hopium.

Mon, 12/26/2011 - 20:24 | 2012418 MsCreant
MsCreant's picture

While I agree there is nothing new under the sun, there are individual, life shaping, gut wrenching, ephiphanies that we can have as individuals, cohorts, or nations. I do think these things tend to track through historical processes that are bigger than us. And we have agency and need not be passive slaves to them. Makes us profoundly faultless and profoundly responsible, at the same time, for everything we do.

Nice to see you too. Hope your holidays are restful and allow you to connect with all those you would like to!

Tue, 12/27/2011 - 07:09 | 2012960 GeneMarchbanks
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Ah, yes of course... Weltschmerz...

The last refuge. Carry on. Perfect example of the exhausted order, yet another reason the youths are disassociating themselves from us.

'Makes us profoundly faultless and profoundly responsible, at the same time, for everything we do.'

Um, pardon?

Tue, 12/27/2011 - 11:15 | 2013460 MsCreant
MsCreant's picture

When there is shame, and shame alone, people don't own their shit and stop being immature idiots. They evade, deny, hide, and other wise stay in deception with themselves and the world. The thing of it is, we do what we do to survive until we wake up. Many people are not born into situations where they are free or where they can even comprehend what freedom is. Did you ask to be born into a situation where your tax dollars are being used to shoot up and bomb children? I sure didn't. We are faultless there (it has always been going on), yet we are responsible for it happening because it is still going on. Faultless, I drop the shame that might tempt me to justify them, nationalism, and what they do in our name. Responsible, I act to stop it because I am awake rather than still in shame. 

Mon, 12/26/2011 - 12:32 | 2011811 falak pema
falak pema's picture

You sound like man's existential struggle is like that of a snake that has swallowed his tail and is trying to tell head from tail. That's the philosopher's paradox. Also the liar's paradox. Also the lover's paradox. In fact in our monumental times a paradoxical pandora's box, a tautological, enigmatic, existential, holographic, incurably anthropological, freudian, sub cutaneous, post coital, pre spiritual sense of insensitivity that tells us that when logic questions facts and converts it inexorably into fiction we are in danger zone, like the ponzi maestros. Never eat your own tail. I had a good xmas and you? Looking forward to the new year...but piano, piano, in no hurry, one minute at a time. Never deny the inevitable always enjoy the epicurian ups as well the stoical downs.

Mon, 12/26/2011 - 20:19 | 2012414 MsCreant
MsCreant's picture

Very restful relatively stress free Christmas. I am fortunate and have so much. 

Sounds like this is true for you as well.

I don't always know what to do with you, but at times there is a lot of wisdom in your non-linear, lyrical postings.

Do you have a link to a picture of your avatar? I cannot make it out.

Mon, 12/26/2011 - 12:55 | 2011840 GeneMarchbanks
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All 'truth' is partial truth. What we're dealing with is really just disproportion. 

'PoMo is taking an ass kicking because folks cherry pick it and those cherry pickens (so to speak) become representations of what PoMo is.'

I'm not sure what that even means if anything? I'm guessing you're involved in soul deadening academic discussions over a simple little booklet that got massively over hyped by US media.

 

 

Mon, 12/26/2011 - 20:15 | 2012413 MsCreant
MsCreant's picture

You see it as soul deadening. Makes my soul soar. I have made a career playing with the stuff. We can agree to disagree? ;-)

Tue, 12/27/2011 - 07:22 | 2012977 GeneMarchbanks
GeneMarchbanks's picture

Writings of fringe French youths makes your 'soul soar'?

I see it for what it is, something that saps the organism and acts on fear and fear alone. Academic decadence, endless rationalization of the irrational.

'This is so American, man: either make something your God and cosmos and then worship it, or else kill it.' -DF Wallace


Tue, 12/27/2011 - 11:11 | 2013471 MsCreant
MsCreant's picture

Are we talking about Post Modern or the academy itself? If we are going to have a debate, lets keep our dimensions straight and be clear what is at issue. If you have a problem with the academy, I don't feel inclined to defend it because you are right. If we are discussing Post Modern, I am open to defending that because I see some use for it. Most academics don't do Post Modern and hate it. It makes war on their projects. The two should not be conflated.

Tue, 12/27/2011 - 11:32 | 2013531 GeneMarchbanks
GeneMarchbanks's picture

There is no debate. The absolute meltdown of all institutions is now well under way. Post modernism? You say the term, I nod my head and we pretend we understood each, my dear. This is the way of the (intellectuals)world. What is often mistaken as the evil is the representation of this breakdown of the social order. The Call and CI are immediately associated with... er... I have no idea, maybe Foucalt? Or Marxist sociology? And why? Simple. To give it a label, to categorize and to give association and context, but notice that it never actually comments on the content itself. Before this exchange deteriorates into Kantian categories and intellectual masturbation, I'll steer us back to my original point with ORI, which is a breakdown of meaning. The youth sense it better than the acclimated older generations and it should be recognized as so. Also, because much of what is said is correct whether you agree with their 'solutions' is irrelevant. On it goes...

Mon, 12/26/2011 - 13:38 | 2011901 disabledvet
disabledvet's picture

"I refuse to blame myself for problems i know i caused." there...i feel much better now.
http://www.youtube.com/watch?v=JGfXiIXTpE0&feature=player_detailpage

Mon, 12/26/2011 - 14:26 | 2011970 cranky-old-geezer
cranky-old-geezer's picture

 

 

Meanwhile the matter is very simple, we've reached global debt saturation.

 

Yes, I believe we'll hear that phrase more often in 2012.

Mon, 12/26/2011 - 17:55 | 2012245 Widowmaker
Widowmaker's picture

Money dies (becomes ineffective) beginning in 2012.

You read it here first.

Fiat = fraud.

Mon, 12/26/2011 - 15:09 | 2012046 MFL8240
MFL8240's picture

I have to agree Gene except the part about War not being a foregone conclusion.  If history is your guide than we will be at war shortly.  If you think these bums in DC want things to change then war is avoidable.  

Mon, 12/26/2011 - 14:41 | 2011996 AnAnonymous
AnAnonymous's picture

Debt forgiveness or trade war that spirals into real war, choice is yours citizens....
///////////////////////////////////////////////////////////

Made me laugh.

Typical US cheap attempt at diversion.

What debt forgiveness?

US citizens are fully into debt forgiveness. They are building on debt that is known not to be paid back.

They are loading on debt they know is going to be forgiven because resources will lack to pay it back.

It is typical to the US citizen consumption game.

Poor, poor US citizen Japanese. They are allowed to take free rides on the back on third worlders,who are in the US citizenism mythology, the true leechs.

Such a disconnection with reality.

US world order.

Mon, 12/26/2011 - 10:58 | 2011692 Martial
Martial's picture

Yep....if you question US/World economic policy, you are obviously with Al-qaeda and under S.1867 you will disappear...forever.

George W: "Either you are with US, or you are with the terrorists."

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