Japan economy may run out of cash by October
Posted by WARREN MOSLER on July 6th, 2012
Monkey see, monkey do:
Japan economy may run out of cash by October
July 6 (VANCOUVER SUN) — Japan’s government could run out of money by the end of October, halting all state spending including salaries, pensions and unemployment benefits, because of a standoff in parliament that has blocked a bill to finance the deficit.
The deficit financing bill, which would allow the government to sell bonds needed to fund almost half of the budget, has languished in parliament as the ruling Democratic Party tussles with opposition parties that can use their control of the upper house to reject legislation.
July 7th, 2012 at 9:41 am
They’re infringing on our intellectual property! We should get licensing fees!
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roger erickson Reply:
July 8th, 2012 at 9:37 pm
@Unforgiven,
Good point. And best laugh all day! Surely we have some lawyers who can claim copyright on fiat, for somebody. FDR?
Copyright on running out of fiat is a natural corollary. Where’s the ACLU?
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Unforgiven Reply:
July 9th, 2012 at 3:54 pm
@roger erickson,
No, no! Not the fiat, the debt ceiling! Anybody can have fiat, but to have a debt ceiling too? That’s Dummerican inginooity!
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