Zero Hedge reports,
Yesterday the Japanese Finance Ministry made a whopper of an announcement: in the year ending March 2013, total Japanese debt will surpass one quadrillion yen, or ¥1,086,000,000,000,000. This is roughly in line with the Zero Hedge expectations that by this March total Japanese debt would surpass one quadrillion yen.
It’s hard to imagine…16 digits…and then it’s on to quintillion?
So prepare to add quadrillion to the vernacular. At this exponential rate of increase quintillion will appear some time in 2015 and so on. Yet the scariest conclusion is that as Bloomberg economist Joseph Brusuelas points out, America is not only next, it already is Japan.
How can this not end badly?
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I’m not going to argue that it won’t end badly, but how can we say that America IS Japan, when we look at the graph from Christopher Wesley’s post from a few days back (http://blog.mises.org/20652/is-britain-turning-japanese/) ?
Zerohedge is the greatest website on the internet.
ZH is to empirical evidence what is mises.org to theory.
Snicker snicker. I just remembered a thread on ZH concerning Fukushima about MILLIONS DEAD SOON BY RADIATION POISONING!
Yep – they also believe that we can produce 120 million barrels of oil a day.
The Yen trades at about 77.5 to the dollar. The US debt of $15 trillion, in round numbers, is Y1,162 trillion. That is Y1.162 quadrillion. So, the US also has a quadrillion in debt.
Jeffrey Rogers Hummel has a good piece up on how this whole mess might end…
Economist Jeffrey Rogers Hummel has a good piece up on how this whole mess might end.
Japan, for all its future economic woes, won’t have the stars-and-stripes’ demographic nightmares. Hiroshima versus Detroit, ’nuff said.
http://goo.gl/FFsCL
Fuck you and all the other race neurotics
You’re collectivists of the basest kind
The truth hurts, doesn’t it?
In that Japan is hardly on the ropes while China builds empty citiies.
The Japanese claim their own distinct racial identity, just ask one of their Korean residents!
You crazy….
What, so you deny Rom their identity? And Jews theirs?
Here’s somewhere to take your high dudgeon, if you dare!
http://goo.gl/AvO0t
The term quadrillion has been in my vernacular since the seventh or eighth grade.
Japan is doing fine. It’s one of the greatest economies in the world. They’re not going bankrupt anytime soon…
Numbers are just numbers. As long as the economy is still productive and growing, there is nothing to worry about.
With tongue firmly planted in cheek?
Is Japan a nation of panhandlers or not?
Are you panhandling for a convenient truth or not?
How is Japan a hard done nation? It’s still an advanced nation and in the forefront of technology. Hence it’s hardly gone to the dogs.
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