IMF urges Japan to start cutting its massive debt

[Silverbird]

It said Japan should start increasing consumption tax to tackle its debt, which at nearly 230% of GDP, is the highest of any industrialised nation.
http://news.bbc.co.uk/2/hi/business/10127279.stm
[yow!]

 

[Steadygain]

It said Japan should start increasing consumption tax to tackle its debt, which at nearly 230% of GDP, is the highest of any industrialised nation.
http://news.bbc.co.uk/2/hi/business/10127279.stm
[yow!]

Have you noticed how these Island Places have gotten seriously pounded since the Financial Weapon of Mass Destruction exploded.

1. Iceland - ruined
2. Greece - ahhh wow -- to good to be true
3. Japan

I'm liking this Global stuff more and more and 'Accountability' is a good thing.

Not sure how they screwed up so bad

I think they should set a limit -- once you hit 100% GDP whoever you're in debt to takes control. Then they should be regarded as a 'Slave Nation' -- and given a 'loser flag' ...

... might be a stronger incentive to the rest of us.

Well have a good night everyone and sweet dreams to all

 

[Silverbird]

Japan never really recovered from the Asian financial Crisis because a lot of the real estate bubble was centered there. Then they got hit with the dot.com crash (large amount of their economy in high tech) and the rise of China. To add to that, they have a "missing" generation, they do not have a Boomer generation like we do, it's more like Buster all the way to now, so they have a limited work force. For cultural reasons (ahem predjudice), legal immigration is neary impossible in Japan.

 

[Steadygain]

Those are excellent points Silverbird -- very good indeed.

I think the most substantial problem may be a little more involved and will have to do a little checking before I can say anything.


But if my memory (or hunch) is right. I'd say the overwhelming bulk was staged by the Higher Powers -- the very few that actually started the whole 'Money Game'. Once they took charge all the other Nations had increasingly huge difficulties being 'included' and had to pay a far greater price. Will elaborate if I'm right but don't have the resources at hand. Anyway I think they were largely 'forced' into a disasterous condition - which in turn got even worse by what you've cited.

Well need to run. If anyone gives you a hard time just pretend it's me and let em have it. :nuts::embarrest: