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Risk of Japan going bankrupt is real, analysts say

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posted on Apr, 11 2010 @ 08:13 PM
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TOKYO — Greece's debt problems may currently be in the spotlight but Japan is walking its own financial tightrope, analysts say, with a public debt mountain bigger than that of any other industrialised nation.

Public debt is expected to hit 200 percent of GDP in the next year as the government tries to spend its way out of the economic doldrums despite plummeting tax revenues and soaring welfare costs for its ageing population.

Based on fiscal 2010's nominal GDP of 475 trillion yen, Japan's debt is estimated to reach around 950 trillion yen -- or roughly 7.5 million yen per person.

Source

Wow and we thought that we had it bad , 7.5 mill a person ???? That does sound like trouble to me .

I had no idea that Japan was going through such trouble . I new that Japan went through a bad recession in the 90's but this is the first that I have ever herd of this kind of trouble in Japan ?




posted on Apr, 11 2010 @ 08:21 PM
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And Japan is the majority holder of US debt...........
The US government is out of control.



posted on Apr, 11 2010 @ 08:23 PM
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Originally posted by Zosynspiracy
And Japan is the majority holder of US debt...........
The US government is out of control.


Is that true? I always thought China was the primary debt holder. Either way, not good.



posted on Apr, 11 2010 @ 08:29 PM
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Japan is completely dependent on exports to the U.S. and the U.S. controls Japan's oil supply, thereby having "veto" power of its economy. That's why Japan has to buy U.S. treasury notes. But since the U.S. is now so poor -- as so much manufacturing went to Asia -- we are not able to buy enough Japanese imports.



posted on Apr, 11 2010 @ 09:06 PM
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reply to post by ventian
 


If I am not mistaken U.S citizens hold the majority of the debt .

As for who is second I recently read that China has just surpassed Japan for second spot .



posted on Apr, 11 2010 @ 09:19 PM
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reply to post by drew hempel
 


USA is still the largest manufacturer in the world.

It's kind of a myth that we don't make things anymore -- perhaps we should be making more than we do, I'll give you that, but we can't export our stuff because the dollar is overvalued (yes, that's right, OVERvalued.)


China makes LOTS of cheap and inexpensive things. USA makes fewer things, but they're a lot more expensive.



posted on Apr, 11 2010 @ 10:08 PM
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I read a couple of weeks back that China was offloading U.S. Debt to Japan, thus making Japan the number 1 holder of U.S. Debt at the time.



posted on Apr, 11 2010 @ 10:12 PM
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reply to post by Kaytagg
 


Increased productivity does not mean increased jobs. So it depends "how" we manufacture -- for example the apparel industry in China has the main reason for job loss being AUTOMATION.



posted on Apr, 11 2010 @ 10:18 PM
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reply to post by Kaytagg
 


its a reality people dont understand and youll never be able to convince people on a thread. The US dollar is WAY overvalued and a weaker dollar is GOOD for the economy, making out exports competitive again and imports harder to compete with local businesses.



posted on Apr, 11 2010 @ 10:20 PM
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this occurance in japan is called a demographic time bomb. the end result of not having kids is that eventually your economy will collapse and in bad fasion. its going to get interesting on the global scene once it comes into full fruition



posted on Apr, 11 2010 @ 10:22 PM
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From today [11 Apr 2010] :

1 Japanese yen = 0.010743 U.S. dollars


7.5 million yen ~= $75,000 USD

which is not that far from our individual per capita public debt.

Last i heard we have about $36,000 USD [in the United States] of public debt, but it is probably worse than that if you account for everything.



posted on Apr, 11 2010 @ 10:41 PM
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posted on Apr, 12 2010 @ 09:22 AM
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Originally posted by ventian

Originally posted by Zosynspiracy
And Japan is the majority holder of US debt...........
The US government is out of control.


Is that true? I always thought China was the primary debt holder. Either way, not good.


No.. the US Federal Reserve is the largest official debt holder (which translates into the US printing money)

After that US Financial Institutions are the largest debt holders, specifically insurance corporations (hence why the new health care bill forces you to buy insurance from a corporation and not the Government... it's a secret tax)

After that I believe it's a close call between Investment funds (mutual, money market, hedge, investment banks etc) and Japan. China WAS the largest FOREIGN holder of debt, but recently sold a rather large sum to Japan. It then goes Japan, China, Germany if I remember correctly.

Also Japanese accounting is very different from Western accounting.. for instance we see them as having had no economic growth for over 10 years now.. even while their corporations posted massive profits.. their way of playing with numbers if something not seen anywhere else.. and it magnifies the "bad news" so to speak. Granted they are still in bad shape, and their currency has gained to much ground against competitors lately, but I don't think it's as bad as we think. They unlike countries like Greece and Iceland actually produce anyways.

[edit on 4/12/2010 by Rockpuck]



posted on Apr, 12 2010 @ 09:30 AM
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The US debt is held by Japan and the UK and the "Cayman Islands"

If they're counting that on their assets book. And then all their own debt on liabilities then you get some real idea of how messed up things are.

Toxic assets leveraged on Toxic assets.



posted on Apr, 12 2010 @ 10:16 AM
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reply to post by Rockpuck
 


I am pretty sure you are close there, from memory I think it's

1. USA (fed)

2. Mutual Funds, Pensions, HFunds (USA)

3. Japan

4. China

5. Canada


Those last 3 can basically be interchanged, I am not sure why I am thinking Canada is in top 5, but I believe it is. Someone can correct me.



posted on Apr, 12 2010 @ 10:19 AM
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reply to post by Kaytagg
 


Yes, it's a joke being propagated by people that live off clicking on hyperlinks for ad dollars.

If the USA doesn't produce cars apparently it doesn't produce anything according to most Americans.

We have the biggest producers in the world here.. (MSFT, INTC)

Most people would rather be misinformed though than have the truth laid out in front of them. They took 'er jooobs (south park)



posted on Apr, 12 2010 @ 08:44 PM
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reply to post by GreenBicMan
 


Looked it up.

1. Fed Reserve
2. Investment Banks (National and International I believe)
3. Japan
4. China
5. Mutual Funds
6. State/local governments.

No Canada in the top 20.

And yes manufacturing produces wealth (like Microsoft.. except Microsoft invents ideas in the US, they actually produce in China, and information technology in various EU states.)

Wealth production is the surplus of trade.. if you have negative trade, you spend more than you create.. that's not to say "money" doesn't increase, in importing countries the monetary supply often increase at substantial rates through consumption, or the internal cycle of wealth. Ultimately though banks, insurance companies, office workers snuffling paper and "idea" creators like Silicon Valley don't create real wealth .. manufacturing, agriculture do.. a perfect economy has a harmonious balance of idea and product creation. The US however relies on McDonalds to create "wealth".



posted on Apr, 13 2010 @ 12:38 AM
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reply to post by vox2442
 


www.finfacts.ie...



Japan like Ireland is still rich but now over a third of its workforce are temporary workers on less than the Irish minimum wage.



posted on Apr, 13 2010 @ 01:11 PM
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reply to post by drew hempel
 


SO I guess what they meant to say "Japan, like the Irish, still have some rich" .. I doubt that 1/3 of the populace living under minimum wage, likely with families to support... feels very rich. Regardless of culture.



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