Posted on 12/27/2012 10:19:45 AM PST by blam
KYLE BASS: Japan Will Have A Bond Crisis Because It Takes 31 Million Years To Count To 1 Quadrillion
Joe Weisenthal
December 27, 2012
There's a video floating around of Kyle Bass reiterating his case that Japan is going to go bust.
His first reason: Because Japan has 1 quadrillion yen worth of debt, and it would take you 31 million years to count to one quadrillion.
(Click to the site to see the video)
(Excerpt) Read more at businessinsider.com ...
All because politicians weren’t willing to make lesser painful decisions earlier.
Kinda like GM giving in in 87 or 88 and giving 100% health care for Retiree's as a conscession to the Unions because a 2 week strike would have brought them to Chapter 11. Instead they were bled dry by their bad decisions and this agreement for the next 20 years...
It will take me one second if I count in quadrillions.
Absolutely.
Almost everybody, who goes bankrupt, does so because they weren’t willing to persue less painful options earlier.
1.00 U.S. Dollar = 86.04 Japanese Yen.
1 quadrillion yen is about 12 trillion US.
And if TSHTF the Japs proved in Fukijima, that they can do what they have to do.
If TSHTF in the US, I’m not so sure about us.
Japan is a high trust society, with civilians willing to trust authorities, and authorities taking great care to not abuse that trust.
Unfortunately, while the average American citizen is willing to put their trust in authorities, I cannot say that the authorities are unwilling to abuse that trust.
There are famously about pi times ten to the seventh seconds in a year, just about the same number of years cited for the count, and this number is the square root of one quadrillion, or ten to the fourteenth.
This means we are allowed one second for each number in the count, very optimistic even in the ideal. "One hundred thirty seven trillion five hundred twenty two billion three hundred seventy five million one hundred sixteen thousand two hunded thirty EIGHT ... where was I?"
I forwarded Kyle Bass’s video to a lot of my friends. Kyle is one of the wisest investment gurus on the planet.
Ref the other thread on Japan vs. China war, Bass expects war to break out soon. I think we may see several wars within two years. Not counting the ones already going on.
1 Yen is a penny.
Japan's debt is 200% of it's GDP. Before Obama, ours was around 45%. It is now 105%. The IMF calls 125% unsustainable. Once interest rates rise (note: they can't drop, and they are unlikely to stay flat for long), Japan's economy is toast within the next 18-24 months. Once they fall, the US is not far behind. (especially since our 105% will become about 140% in the next year. Obama has zero interest in being the President who cuts any social spending.)
We're at 16T, and we have more than twice as many people, with a median age of 37 versus Japan's 46.
They have a declining population and will lose a third of their workforce in the next 25 years.
If congress let's Hussein have his way and he get's to set the debt ceiling, I'd bet he could get there a lot faster.
Where does all this money go anyway?
Does Japan have any military to wage any war with anyone???
Jaqpan is not going to war with China who has a huge military, huge manufacturing, a lot of cash, and a lot of people. The war would last about 15 minutes.
You’re spot-on except for one thing:
Japan’s debt is about 235% of their GDP.
And going higher rather rapidly as their current account tips over.
Bump
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