Friday, August 9, 2013

9/8/2013: PM Abe: a fella who makes history, quickly...

Roger, we have a problem... or rather - we now have a historic-level problem. Swept by Abenomics - the latest Japanese policy craze that believes in simultaneous borrowing and printing of excessive amounts of cash as a form of economic development, the Japanese economy is drowning in the sea of Government debt. This week, the Government has announced that its official debt levels have surpassed Yen 1,008,600 billion or Yen 1,008.6 trillion or Yen 1.0 quadrillion.

Never fear, this for now amounts to just USD10.42 trillion - a mere 230% of GDP. Abenomics has some room to run, yet... stay tuned and buckled up.

Source: http://www.zerohedge.com/node/477408 via @zerohedge
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