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Japan debt tops 1 quadrillion yen
CNN Money ^ | 08/08/2013 | Charles Riley

Posted on 08/09/2013 5:34:08 AM PDT by SeekAndFind

Japan's finance ministry released data Friday showing that the country's debt burden has topped 1 quadrillion yen for the first time.

Yes, more than 1 quadrillion. If you want to get specific, Japan's central government debt at the end of June was 1,008,628,100,000,000 yen.

Here's another way to write that: 1,008.6 trillion yen. In U.S. dollars, it's $10.5 trillion.

While one quadrillion is largely a symbolic level, the eye-popping number underscores a real challenge for Japan, which has more debt as a percentage of GDP than any other developed nation.

Tokyo has now issued 830 trillion yen in government bonds, and the country's revenue collection has never kept pace. Japan's gross public debt is projected to hit 230% of GDP by 2014 after years of sustained deficits.

Japan has increased borrowing this year to spend more on the country's infrastructure as part of an ambitious program of economic stimulus aimed at ending decades of stagnation and falling prices.

The Organization for Economic Cooperation and Development has cautioned that Japan must do more to arrest rising debt. "Stopping and reversing the rise in the debt-to-GDP ratio is crucial," the organization has said.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Japan; News/Current Events
KEYWORDS: debt; japan; quadrillionyen

1 posted on 08/09/2013 5:34:08 AM PDT by SeekAndFind
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To: SeekAndFind

Dang! The Japanese are beating us again. Our President sucks!


2 posted on 08/09/2013 5:34:50 AM PDT by Tenacious 1 (Waiting for next tagline.)
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To: SeekAndFind

The US debt is bigger than this and hidden by the stopped Debt clock.


3 posted on 08/09/2013 5:35:34 AM PDT by sr4402
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To: sr4402

>> hidden by the stopped Debt clock.

What do you mean by that? I can think of a couple possibilities but I can’t tell for sure.


4 posted on 08/09/2013 5:41:08 AM PDT by Nervous Tick (Without GOD, men get what they deserve.)
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To: sr4402
The US debt is bigger than this and hidden by the stopped Debt clock.

I thought they made the debt clock illegal.

5 posted on 08/09/2013 5:42:51 AM PDT by Tenacious 1 (Waiting for next tagline.)
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To: Nervous Tick

http://www.freerepublic.com/focus/f-news/3049087/posts?page=46


6 posted on 08/09/2013 5:49:41 AM PDT by ClearCase_guy (21st century. I'm not a fan.)
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To: sr4402

While their debt is about 60% of ours, we have a bit less than triple the population.


7 posted on 08/09/2013 5:50:23 AM PDT by EEGator
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To: Tenacious 1

RE: Dang! The Japanese are beating us again.

No they’re not. If you convert our $17 Trillion debt to Yen, at 1 USD to 100 Yen, we are 1.7 Quadrillion yen in debt. Nearly TWICE theirs.

That doesn’t even count our other unfunded liabilities.


8 posted on 08/09/2013 5:50:45 AM PDT by SeekAndFind
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To: Nervous Tick; sr4402
What do you mean by that? I can think of a couple possibilities but I can’t tell for sure.

I believe sr4402 is referring to the US Gov staying at 25 Million under the debt ceiling by "borrowing" money from the retirement accounts of Fed employees. This is sort of like what it does by "borrowing" from the Trust fund. My understanding is that they can get away with it until September. This is just proof that all of the numbers are just made up. If closely watched companies Bear Stearns, Enron and Global Crossings can make up stuff until the complete collapse, how much better can the Feds do it?
9 posted on 08/09/2013 5:52:25 AM PDT by Dr. Sivana (There's no salvation in politics.)
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To: SeekAndFind
No they’re not. If you convert our $17 Trillion debt to Yen, at 1 USD to 100 Yen, we are 1.7 Quadrillion yen in debt. Nearly TWICE theirs.

SWEET! We're still #1! This is our new pride in America Exceptionalism. Nobody spends like America! :o(

10 posted on 08/09/2013 5:53:09 AM PDT by Tenacious 1 (Waiting for next tagline.)
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To: SeekAndFind

We had to learn what a trillion is. Now I guess we’ll have to learn what a quadrillion is.


11 posted on 08/09/2013 5:53:50 AM PDT by Will88
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To: ClearCase_guy; Dr. Sivana

thx


12 posted on 08/09/2013 5:58:43 AM PDT by Nervous Tick (Without GOD, men get what they deserve.)
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To: SeekAndFind

1 quadrillion dollars in pallets of $100M dollars each (in $100 dollar bills).

The red spike is the size of the Burj Dubai in Dubai, United Arab Emirates is currently the world's tallest man-made structure.

source

I realize there's about 100 yen per dollar, so a quadrillion yen stack of 10,000 yen bills (100x100) would only be the façade row, but still....

13 posted on 08/09/2013 6:00:42 AM PDT by P.O.E. (Pray for America)
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14 posted on 08/09/2013 6:08:17 AM PDT by RedMDer (http://www.dontfundobamacare.com/)
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To: SeekAndFind
That doesn’t even count our other unfunded liabilities.

Which brings up the same question for Japan. Does their number include unfunded liabilities?

Do any of the published stats tell the "truth"?

George Orwell meets Lewis Carroll.

15 posted on 08/09/2013 6:16:27 AM PDT by ChildOfThe60s (If you can remember the 60s.....you weren't really there)
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To: Will88

I have a set of Zimbabwean banknotes which total 180 trillion dollars. Because I am such a nice freeper I will cover the national debts of the US and Japan for some passes to Walt Disney World and Tokyo Disneyland. :)


16 posted on 08/09/2013 6:32:24 AM PDT by xp38
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To: SeekAndFind

Japan is definitely “ahead” on the debt vs GDP ratio.

As for the unfunded liabilities, Japan probably cooks their books the same as we do.


17 posted on 08/09/2013 6:56:24 AM PDT by citizen (We get the government we choose. America either voted for Obama or handed it to him by not voting.)
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To: citizen


18 posted on 08/09/2013 6:59:22 AM PDT by SeekAndFind
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To: EEGator
While their debt is about 60% of ours, we have a bit less than triple the population.

Yet, they likely have more productive people.

19 posted on 08/09/2013 7:20:38 AM PDT by SampleMan (Feral Humans are the refuse of socialism.)
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To: SampleMan

They are screwed demographically regardless.


20 posted on 08/09/2013 7:24:34 AM PDT by EEGator
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To: citizen

Sadly, Japan works their economy on the US$.. They want the yen to be weak so that the exports are cheap overseas and bring in more profit here... What they obviously can’t/don’twon’t foresee, is that they are destroying their own country in the process :/


21 posted on 08/09/2013 8:38:44 AM PDT by Bikkuri (Molon Labe)
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