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MYTH=JAPAN IS BROKE--BUT WORLD"S LARGEST CREDITOR
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Government & Elections
MYTH=JAPAN IS BROKE--BUT WORLD"S LARGEST CREDITOR
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( Note: A long-article, but informative & worth the read ) http://truth-out.org/news/item/11414-the-myth-that-japan-is-broke-the-worlds-lar EXCERPT
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Cat:d51398b3-89f9-463d-bf1b-4b885f02c9eeForum:af978875-5bc6-4b07-a6fb-b18062132f95
Cat:d51398b3-89f9-463d-bf1b-4b885f02c9eeForum:af978875-5bc6-4b07-a6fb-b18062132f95Discussion:cd833840-98c2-4190-82cc-3f036c75675b
Forums » Politics & Society » Government & Elections » MYTH=JAPAN IS BROKE--BUT WORLD"S LARGEST CREDITOR
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MYTH=JAPAN IS BROKE--BUT WORLD"S LARGEST CREDITOR
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MYTH=JAPAN IS BROKE--BUT WORLD"S LARGEST CREDITOR
posted at September 9, 2012 6:45 AM EDT
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Posts: 12532
First: February 29, 2008 Last: May 17, 2013 |
( Note: A long-article, but informative & worth the read ) EXCERPT In an April 2012 article in Forbes titled "If Japan Is Broke, How Is It Bailing Out Europe?" As noted by Wolf Richter in a May 9, 2012 article: [T]he Japanese [are] in fact among the few people in the world enjoying actual price stability, with interchanging periods of minor inflation and minor deflation - as opposed to the 27 percent inflation per decade that the Fed has conjured up and continues to call, moronically, "price stability." According to Gary Shilling writing in Bloomberg in June 2012, more than half of Japanese public spending goes for debt service and social security payments. Debt service is paid as interest to Japanese "savers." Social security and interest on the national debt are not included in GDP, but these are actually the social safety net and public dividends of a highly productive economy. It's a good deal for the Japanese government: it can borrow ten-year money at 1 percent and lend it to the United States at 1.6 percent (the going rate on US ten-year bonds), making a tidy spread. Japan's debt-to-GDP ratio is nearly 230 percent, the worst of any major country in the world. Yet Japan remains the world's largest creditor country, with net foreign assets of $3.19 trillion. |
Forums » Politics & Society » Government & Elections » MYTH=JAPAN IS BROKE--BUT WORLD"S LARGEST CREDITOR
