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April 12, 2010
Ruh-oh
Japan is on the verge of bankruptcy.
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.
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.
Not to worry, there is no problem as long as there are flows of money in the bond market, they say.
Posted by Ghost of a flea at April 12, 2010 06:53 AM