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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Japan Sees Its Public Debt Exceeding A Quadrillion Yen Next Year

Posted by WARREN MOSLER on January 26th, 2012

THEN they’ll be the next Greece…

Japan Sees Its Public Debt Exceeding A Quadrillion Yen Next Year

Jan 26 (Bloomberg) — Japan’s Finance Ministry said the country’s public debt will probably exceed a quadrillion yen for the first time next year, adding pressure on Prime Minister Yoshihiko Noda to raise taxes to restore the nation’s finances.

6 Responses to “Japan Sees Its Public Debt Exceeding A Quadrillion Yen Next Year”

  1. RSG Says:

    I assume you’re being facetious.

    Reply

    WARREN MOSLER Reply:

    borderline sarcastic, actually, sorry.

    Reply

  2. pebird Says:

    Happy to see the dreaded “quadrillion” enter our financial lexicon. What are we going to do when we run out of zeros?

    Reply

    MamMoTh Reply:

    @pebird, buy them cheaply from China.

    Reply

    John O'Connell Reply:

    @pebird,

    I can create some for you, for free. On my computer.

    Reply

  3. Unforgiven Says:

    Good post by Jim Luke, working on notes for a lecture:

    http://econproph.com/2012/01/25/does-anybody-understand-debt

    Reply

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