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| Economy |
| Japan economy at risk of 'bankruptcy' |
| 2010-04-12 |
| Analysts have warned that Japan may go bankrupt next year with a public debt figure larger than that of any other industrialized nation. Dai-ichi Life Research Institute cautions about surging public dept of Japan, estimating that it will hit 950 trillion yen next year. That is 200 percent of the country's GDP. Experts say that Japan cannot avoid bankruptcy unless it issues more government bonds. Japan has the world's second-largest economy by nominal GDP and the third largest in purchasing power parity. Deflation, high public debt and weak domestic demand have had a drastic impact on Tokyo's finances. The Japanese economy shrank 5.2 percent last year. |
| Posted by:Fred |
| #10 Oh, you're good, SteveS. You are good. |
| Posted by: trailing wife 2010-04-12 14:49 |
| #9 Japan economy at risk of 'bankruptcy' Are you sure about this? Because back in the '80s there was a whole slew of books about Japan, Inc. and how this rising economic power was going to dominate the world economy. I admit I've been a little out of touch since reading Ehrlich's The Population Bomb and The Club of Rome's Limits to Growth back then. I figured with the coming world-wide famine, resource shortage and general societal collapse, the best thing was to hide in the basement. For all I know, we have had the Zombie Apocalypse and the US is now an over-taxed socialist welfare state on the European model. |
| Posted by: SteveS 2010-04-12 13:47 |
| #8 I doubt it, Fester. That's not "official" yet. |
| Posted by: Cornsilk Blondie 2010-04-12 12:41 |
| #7 Does the US number include "off balance sheet" debt such as for Freddie and Fannie? |
| Posted by: Fester Thaiger8930 2010-04-12 09:54 |
| #6 I actually hope that several nations go bankrupt before long, so that they can be economic laboratories. The trick is to stabilize the other at-risk countries so it doesn't create a domino effect. If two or three countries went belly up at about three month intervals, it could turn into a "rolling" problem, which is always better than a simultaneous collapse. |
| Posted by: Anonymoose 2010-04-12 09:08 |
| #5 UK's debt is wrong in that one. It's more like 2 Trillion. |
| Posted by: Bright Pebbles 2010-04-12 03:52 |
| #4 Now I understand why Obama is so anxious---he's in a race. |
| Posted by: g(r)omgoru 2010-04-12 03:39 |
| #3 MARIANAS VARIETY > JAPANESE LAWMAKERS WANT FUTENMA RELOCATED TO TINIAN + JAPAN'S SDP EYES TINIAN. |
| Posted by: JosephMendiola 2010-04-12 02:24 |
| #2 And how other countries are faring with their National Debt, as percentage of their GDP. |
| Posted by: Alaska Paul 2010-04-12 01:12 |
| #1 Versus WMF > CHINA SHOULD DENY RUSSIA ACCESS TO MAJOR CHIN,NORTH KOREA FREEPORTS IFF RUSSIA OBSTRUCTS AND REFUSES TO ALLOW CHINESE INVESTMENT IN SAKHALIN. DEMAND VIETNAM DENY RUSSIA AND INDIA MARITIME RIGHTS. |
| Posted by: JosephMendiola 2010-04-12 00:30 |