– Japan Debt Update: ¥1,020,000,000,000,000.00 (ZeroHedge, May 10, 2014):
It’s been a while since we looked at Japan’s debt situation. Here is the dire update.
From Japan News:
Japan’s national debt totaled a record-high ¥1.02 quadrillion as of the end of March, up ¥33.36 trillion from a year earlier, the Finance Ministry said.
The central government debt, which increased ¥7.01 trillion from the end of December last year, kept rising mainly due to ballooning social security costs in line with the aging of the population.
The balance of government bonds, financing bills and other borrowing crossed the ¥1 quadrillion line for the first time ever at the end of June 2013.
The national debt stood at ¥8.06 million per capita, based on an estimated population of 127.14 million as of April 1.
Finance Minister Taro Aso said the situation has become “very severe” because of slow progress in fiscal reforms.
Of the debt, general government bonds increased ¥38.86 trillion from a year earlier to ¥743.87 trillion. Financing bills, used to procure funds for currency market intervention, totaled ¥115.69 trillion, up ¥420.8 billion.
But fiscal investment and loan program bonds, used to raise funds for loans to government affiliates, decreased ¥5.05 trillion to ¥104.21 trillion.
Long-term debt, excluding fiscal investment and loan bonds, financing bills and others, totaled ¥770.4 trillion.
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So Japan’s debt grew by 7 trillion in one quarter? Sure, why not. Here’s why: presenting the Bank of Japan’s balance sheet.
Perfectly “New”, and quite sustainable, Normal.
The hidden truth is the fact they cannot export anything. Until 3/11, they had a strong balance sheet. They were also the second strongest lenders to the US at low interest rates…….
Most nations have checks for radioactive content of exports. Nations, such as Poland, and many others have been refusing Japan’s goods as being too high to accept. The US, and all other news agencies have been silent.
Japan is in deep trouble. The radioactive poisons pouring into their atmosphere, water, air, soil and crops have to be addressed. Pretending nothing is wrong is childish and dangerous.
All the nations lying east of Japan are getting radioactive poisons as well. Hawaii, the western US, all of the world…..we are getting constant attacks from their radioactive source, and reporters who warn about it, are sent to jail.
Fukushima Diary just got a year’s worth of payments taken from them for speaking the truth.
What is wrong with these people? What has happened to this world? Why is denial more important than addressing the truth?
The folly is beyond reason. It won’t change a thing.
I’m so confused. Up until the eighties there was ying & yang. Every trading country had a Balance, which was plus or minus with all other nations, which when thrown in the pot created equilibrium worldwide.
Now, every country is so desperately in debt, with numbers that beggar belief, to the extent that most industrialised countries only borrow for the immediate current account liabilities, the previous mountains of borrowings having been capitalised into long term liabilities which probably can never be repaid, and only delayed by hiding it and kicking the can down the road for ever …and ever.
This can only result in DEFAULT. But who pulls the plug, and when?
War will enable the world economies to fold & start again, but funding is needed for it. Who is funding the stick poking at Russia/Iran/Syria? It is expensive, but all those doing it are bankrupt.
Still confused.