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Offlinelonestar2004
Live to party,work to affordit.
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Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 5 years, 8 months
Japan's National Debt Hits Record High
    #4699758 - 09/23/05 11:16 AM (11 years, 2 months ago)

TOKYO - Japan's government debt, already the highest in the industrialized world, rose 1.7 percent to a record high of 795.8 trillion yen ($7.1 trillion) at the end of June, according to a report released by the Finance Ministry.

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The latest figure marked an increase of 14.3 trillion yen from the end of March , the ministry said Thursday. The amount is equivalent to about 6.24 million yen ($55,900) for every Japanese.

Japan has relied on government bond issues to make up for falling tax revenues, turning into one of the world's most indebted countries.

Japan's public debt burden is almost 160 percent of its GDP and already the highest in the industrialized world.

Prime Minister Junichiro Koizumi, voted back to office following a landslide win in the Sept. 11 lower house elections, has pledged to improve the country's finances by reining in public spending and creating a smaller government.

A package of bills that would privatize Japan's massive postal service, set to be approved during a special parliamentary session that began Wednesday, has been the cornerstone of Koizumi's reform agenda.

Advisers to the government have also been mulling ways to raise taxes when the nation's economic recovery takes firmer root


http://news.yahoo.com/s/ap/20050923/ap_on_bi_ge/japan_government_debt


--------------------
America's debt problem is a "sign of leadership failure"

We have "reckless fiscal policies"

America has a debt problem and a failure of leadership.

Americans deserve better

Barack Obama


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InvisibleRandalFlagg
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Registered: 06/15/02
Posts: 15,608
Re: Japan's National Debt Hits Record High [Re: lonestar2004]
    #4699828 - 09/23/05 11:33 AM (11 years, 2 months ago)

Me so in debt...


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InvisiblelIllIIIllIlIIlIlIIllIllIIl
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 Arcade Champion: Airfox

Registered: 12/16/04
Posts: 11,123
Loc: Texas
Re: Japan's National Debt Hits Record High [Re: lonestar2004]
    #4699867 - 09/23/05 11:48 AM (11 years, 2 months ago)

WHAT THE FUCK??? I always thought Japan had NO debt. This was fed to me by my father as a child and is what made me a hadcore fiscal-conservative. That is really fucked up, I feel like I've been betrayed.

Oh well at least Canada has been paying its debt down the last ten years... one day it will be zero.

Also randal, I keep getting a boner in everytime I see you. Theres just something about that chick.


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Offlinedaimyo
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Registered: 05/13/04
Posts: 7,751
Last seen: 4 years, 9 months
Re: Japan's National Debt Hits Record High [Re: lIllIIIllIlIIlIlIIllIllIIl]
    #4699875 - 09/23/05 11:51 AM (11 years, 2 months ago)

Maybe we shouldn't turn control of the world over to them.


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"I have sworn upon the altar of God eternal hostility against every form of tyranny over the mind of man."


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OfflineRedstorm
Prince of Bugs
Male

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Registered: 10/08/02
Posts: 44,174
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Re: Japan's National Debt Hits Record High [Re: daimyo]
    #4699879 - 09/23/05 11:52 AM (11 years, 2 months ago)

Quote:

daimyo said:
Maybe we shouldn't turn control of the world over to them.




:lol:


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InvisibleRandalFlagg
Stranger
Registered: 06/15/02
Posts: 15,608
Re: Japan's National Debt Hits Record High [Re: lIllIIIllIlIIlIlIIllIllIIl]
    #4699931 - 09/23/05 12:06 PM (11 years, 2 months ago)

Quote:

adjust said:
Also randal, I keep getting a boner in everytime I see you. Theres just something about that chick.




Could it be because her boobs are larger than Japan's debt?


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InvisiblelIllIIIllIlIIlIlIIllIllIIl
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Registered: 12/16/04
Posts: 11,123
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Re: Japan's National Debt Hits Record High [Re: RandalFlagg]
    #4700010 - 09/23/05 12:21 PM (11 years, 2 months ago)

THAT'S IT


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Offlinephi1618
old hand

Registered: 02/14/04
Posts: 4,102
Last seen: 6 years, 6 months
Re: Japan's National Debt Hits Record High [Re: lonestar2004]
    #4700254 - 09/23/05 01:31 PM (11 years, 2 months ago)

Japan's government is laden with absurd debt, entrenched bureaucracy, and exclusive relationships with public-dependent corporations. Problems with their government are a large part of why their economy has been languishing for the last 15 years (or so).


However, governmental debt isn't a very good measure of how financially sound a nation is. If the foreigners owe the private citizens of a nation more money than the government owes to foreigners, then the nation as a whole is being payed interest by the rest of the world - ie. money flows into the nation without any product flowing out.


A better measure of a nations finacial position in the world are its net external assets - the claims - ownership of real assets, shares, and debt - of it's citizens and government on foreigners less the claims of foreigners on it.

The net external assets of a nation are rellated to it's current account ballance in the way that the public debt is related to the governments budgetary deficit.
Current accont ballance is the money flowing between nations. If the combined citizens of a nation spend more money on goods, services, and interest payments to foreign citizens than they recieve in similar payments, then there is a current account deficit and foreigners are accumalating claims on a nations resources and future production. If a country runs a current account deficit for many years, then they will have net external liabilities, and they will be paying money to foreigners to fulfill their obligations and will get nothing in return. On the flip side, reverse that for current account surplus.


I was unable to find figures for net external assets/liability for any country, though net external debt is available for some (not Japan, that I could find). However, current account information is readily available here


As you can see, in 2004 Japan had the largest current account surplus of any nation in the world, $ 170,200,000,000.

In other words, Japan has a shitty government, but wealthy and thrifty citizens.



Contrast this with America's current account ballance: $ -646,500,000,000.

Oh yeah - we're already part slaves, and selling ourselves further into slavery every day - to the Japanese, among others.


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Invisibleafoaf
CEO DBK?
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Registered: 11/08/02
Posts: 32,665
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Re: Japan's National Debt Hits Record High [Re: phi1618]
    #4700281 - 09/23/05 01:39 PM (11 years, 2 months ago)

the 8th miracle of the world, hard at work against us...


--------------------
All I know is The Growery is a place where losers who get banned here go.


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OfflineJesusChrist
Son Of God
Registered: 02/19/04
Posts: 1,459
Last seen: 4 years, 2 months
Re: Japan's National Debt Hits Record High [Re: afoaf]
    #4700423 - 09/23/05 02:25 PM (11 years, 2 months ago)

The Japs didn't even have to pay for social security because an entire generation of Nips were wiped out by Uncle Sam. Their pension costs are now on the rise as postwar children and children too young to fight begin to retire and suck off the public dole.


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Tastes just like chicken


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