TOKYO—Half or more of Japan’s huge government debt doesn’t really exist. And even if it does, the country needs a lot more of it.
Those are a couple of the arguments being heard in Tokyo as the rich world’s most-indebted government relative to its size prepares for a new round of spending this fall that could reach into the hundreds of billions of dollars. Japan often serves as a tryout venue for policies that later debut on the world economy’s biggest stage, the U.S. The Japanese central bank was a pioneer in introducing zero interest rates and buying large quantities of government bonds to stimulate a sluggish economy, tools subsequentlyIn debt as well, Japan has led the pack. Its central-government debt first surpassed the size of the economy about 20 years ago. Now the U.S.
Tokyo’s central government is already on the hook to pay out nearly $10 trillion to its creditors. It sounds like an impossibly large sum to rustle up for a government that collects less than $600 billion in taxes each year.
Source: Loan Digest (loandigest.net)
There's no greater joy than having financial freedom and a life free debts 😊, that's why I keep posting a comment about ponomereko121
...and economy based on debt. How is mitigation of climate change supposed to take place with this type of economy? It doesn't address the real needs and will always stifle innovation in favor of control and profit.
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