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Originally posted by travis911
Here is a lovely fact that should make you think, Japan's debt to GDP ratio is 230%. Compared to America at 100% and Greece at 150%. Japan owes so much money that with an aging population, rising medical costs, and a cultural anger towards immigration, they have no way to pay it back. Forget the EU or America, Japan is so large it can't be bailed out. This is the real story the media does not want to tell as its not fixable:
The Japanese government can afford its enormous debt because it owns the bank that is its principal creditor. But competitors are attempting to force the bank’s privatization. If they succeed, they could propel the country into debt servitude along with other credit-strapped nations.
Originally posted by Flavian
reply to post by travis911
There is a major difference though between Japanese national debt and pretty much every other nations debt. The Japanese owe the majority of their debt to themselves rather than to international banks, etc.