Their public debt is above 200% of annual GDP.
I think that pretty much says it all. I don't respect systems that are built on a publicly known joke, such as calling something "debt" that will never be repaid in a fair and orderly manner. It's a sign of dishonesty or having lost the connection to reality.
It's a pity. I love Japan, I really do. But that's just insane.
Topic: Financial Times: Japan records largest ever trade deficit (Read 827 times)
When Japanese decide that they want to speculate, they speculate crazier than anyone else. It is only a matter of time for the Japanese start to hold bitcoin massively. Welcome join the bitcoin economy.
http://www.ft.com/cms/s/0/6aa68b02-65d6-11e2-a17b-00144feab49a.html#ixzz2IsXitWr8
Japan recorded a record Y6.9tn ($77bn) trade deficit in 2012 as the cost of importing fuel rose following the Fukushima disaster, and a strong yen and frictions with China weighed on exports.
...
Japan has also received support for its policy from economists and some central bankers, who argue – as Japanese officials do – that the benefits of a revived Japanese economy would outweigh the costs of a stronger yen.
Jump to: