Discussion
Now lots of bandwagon jumpers are starting threads on Greek debt I thought I'd start one on Japanses debt.
"JAPAN'S mounting public debt problem cannot be compared to the Greek crisis, although there are long-term concerns for Asia's biggest economy, a Japanese senior finance official said on Thursday.
Japan, after decades of heavy stimulus spending and declining tax revenues, has a public debt mountain bigger than any other industrialised nation, expected to hit 200 per cent of gross domestic product in the next year.
But senior Vice Minister of Finance Naoki Minezaki told reporters that, 'as 95 per cent of Japanese government bonds are bought domestically, there is no reason to compare them with Greece,' the Nikkei daily reported.
He added, however, that Japan's situation is 'quite severe over the medium and long term,' according to the business daily's website. Mr Minezaki, a ruling-party lawmaker, is one of the two politically appointed senior vice ministers of finance."
http://www.straitstimes.com/BreakingNews/Money/Sto...
"JAPAN'S mounting public debt problem cannot be compared to the Greek crisis, although there are long-term concerns for Asia's biggest economy, a Japanese senior finance official said on Thursday.
Japan, after decades of heavy stimulus spending and declining tax revenues, has a public debt mountain bigger than any other industrialised nation, expected to hit 200 per cent of gross domestic product in the next year.
But senior Vice Minister of Finance Naoki Minezaki told reporters that, 'as 95 per cent of Japanese government bonds are bought domestically, there is no reason to compare them with Greece,' the Nikkei daily reported.
He added, however, that Japan's situation is 'quite severe over the medium and long term,' according to the business daily's website. Mr Minezaki, a ruling-party lawmaker, is one of the two politically appointed senior vice ministers of finance."
http://www.straitstimes.com/BreakingNews/Money/Sto...
Japan has lost nearly two full decades of growth. They will never recover. Not to mention the single most dramatic population transition in human history. Census projections show that Japan will lose 30 Million people over the next 30 years dropping over 35% of their total population.
They are done as a major power.
They are done as a major power.
Tadite said:
Japan has lost nearly two full decades of growth. They will never recover. Not to mention the single most dramatic population transition in human history. Census projections show that Japan will lose 30 Million people over the next 30 years dropping over 35% of their total population.
They are done as a major power.
I disagree, and a population drop is possibly a good thing given how crowded the island already is.They are done as a major power.
Japan is still at the forefront of technology and engineering
magpie215 said:
TEKNOPUG said:
Good question.
Perhaps every country should write off their debt and we'll all just start again from zero.
Probably not a bad idea can any of these countries ever realistically get back into the black?Perhaps every country should write off their debt and we'll all just start again from zero.
Country's don't just owe money to other country's, but rather private companies, banks etc.
What is more interesting, is what the "net" debt that isn't directly owed from one country to another?
Edited by Dracoro on Thursday 6th May 18:09
Halb said:
Fittster said:
mondeoman said:
Is there ANYONE this isn't going to feck over at some point??
Norway.http://en.wikipedia.org/wiki/Economy_of_Norway
"apan is at "risk of collapse" under its huge debt mountain, the country's new prime minister has said.
Naoto Kan, in his first major speech since taking over, said Japan needed a financial restructuring to avert a Greece-style crisis.
"Our country's outstanding public debt is huge... our public finances have become the worst of any developed country," he said.
After years of borrowing, Japan's debt is twice its gross domestic product.
"It is difficult to continue our fiscal policies by heavily relying on the issuance of government bonds," said Mr Kan, Japan's former finance minister.
"Like the confusion in the eurozone triggered by Greece, there is a risk of collapse if we leave the increase of the public debt untouched and then lose the trust of the bond markets," he said."
http://news.bbc.co.uk/1/hi/business/10290933.stm
Naoto Kan, in his first major speech since taking over, said Japan needed a financial restructuring to avert a Greece-style crisis.
"Our country's outstanding public debt is huge... our public finances have become the worst of any developed country," he said.
After years of borrowing, Japan's debt is twice its gross domestic product.
"It is difficult to continue our fiscal policies by heavily relying on the issuance of government bonds," said Mr Kan, Japan's former finance minister.
"Like the confusion in the eurozone triggered by Greece, there is a risk of collapse if we leave the increase of the public debt untouched and then lose the trust of the bond markets," he said."
http://news.bbc.co.uk/1/hi/business/10290933.stm
andy_s said:
Ah, from the 'web of debt' thread.
See this bit I don't get, the same countries owe money to each other, surely they should just write it off or whatever until only one side owes the other money?e.g Spain vs Italy.
$47 owed to Spain by Italy and $31 owed to Italy by Spain, surely in reality that should just be $16 is owed by Italy to Spain? What am I missing?
nonuts said:
See this bit I don't get, the same countries owe money to each other, surely they should just write it off or whatever until only one side owes the other money?
e.g Spain vs Italy.
$47 owed to Spain by Italy and $31 owed to Italy by Spain, surely in reality that should just be $16 is owed by Italy to Spain? What am I missing?
Pierre from France owes you £1000.e.g Spain vs Italy.
$47 owed to Spain by Italy and $31 owed to Italy by Spain, surely in reality that should just be $16 is owed by Italy to Spain? What am I missing?
Bob from Birmingham owes Pierre £1000.
Should Pierre say to YOU that he won't pay you back YOUR £1000 as he, in turn, is letting Bob off his £1000?
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