Saturday, November 26, 2011

Forget about Greece, Italy and Spain: The coming crisis in Japan

In Japan, public debt is approximately 200% of GDP, basically double the rate of the U.S. with anemic growth and zero or negative population growth. The IMF warns that a sudden spike in bond yields could devastate Japan's ability to service its already crushing debt. The proposals on the table are just more taxes, in the form of increasing Japan's existing consumption tax.


Post a Comment

Twitter Delicious Facebook Digg Stumbleupon Favorites More

Powered by Blogger