Skip to comments.Japan's Shocking Keynesian Slip: "We Are Worse Than Greece"
Posted on 03/13/2012 7:08:53 PM PDT by Kartographer
In a stunning turn of events, a Japanese Ministry of Finance official admits to Richard Koo's worst nightmare "Japan is fiscally worse than Greece". Bloomberg is reporting that, at a conference in Tokyo, Yasushi Kinoshita says Japan's 2011 fiscal deficit was up to 10% of GDP and its debt-to-GDP has soared to over 230%.
(Excerpt) Read more at zerohedge.com ...
Interesting. Not sure in this Bizarro World what to expect out of this.
That’s where the low-birthrate Keynesian welfare state inevitably ends up. The main thing that might save the United States is that hopefully seeing other nations implode will wake us up before it’s too late.
Its Obamaland at work. If you take out the hub of western man the others have issues. Strip out the spokes of any wheel and it will fail. Its all part of the big crash America playbook.
American economic policy goes well beyond the US borders.
Well it won’t be a financial collapse for sure I had two wise old FReepers assure me just today that a financial collapse of the US was impossible.
Too late? We have 57 Trillion in un-funded liabilities. Its way past too late; were just marking time now.
And nearly everyone ignores that the Japanese economic miracle has been dead for the last 10+ years. Killed by the same Keynesian theories obmimbi and his Keynseian spouting economic academics have been spewing to the MSM
All we have to do is wait for more illegal aliens to “self-import” themselves.
I saw a couple of those posters yesterday claiming that America can never have a fiscal crash because we can print all the money we will ever need.
Apparently they’ve never heard of Weimar Germany. Were I JimRob I’d boot them on grounds of Pure Stupid.
Though it really doesn't matter, the real number is closer to double that. However, it doesn't matter if you drown in 15 feet of water or 150 feet, you're just as dead either way.
Whew! Thanks, I needed that!
Thanks for the ping. I had not realized that Japan is in such bad shape. Deficit spending is eventually suicidal.
It would be interesting being paid twice a day and having to spend it before the sun came up on the next day.
The first comment on the article is “ROR!”, which I have to presume means “Raughing out Roud.”
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