Japan In Deep S H I T

[jbourne]

[size=4][color=#000000][font=Arial, Helvetica, sans-serif]TOKYO--Japan's central-government debt topped the quadrillion mark for the first time ever in the second quarter, the Ministry of Finance said Friday.[/font][/color]
[color=#000000][font=Arial, Helvetica, sans-serif]The central government's outstanding liabilities totaled Y1.009 quadrillion at the end of June, up from Y991.601 trillion at the end of March, the ministry said. The figure includes long- and short-term bonds and other types of borrowing.[/font][/color]
[color=#000000][font=Arial, Helvetica, sans-serif]The latest data confirm that Japan's central government debt alone is above 200% of gross domestic product, by far the highest among industrialized economies. Japan's GDP for the fiscal year ended in March, not adjusted for price changes, totalled Y474.8 trillion, according to the Cabinet Office.[/font][/color]
[color=#000000][font=Arial, Helvetica, sans-serif]The headline figure doesn't include promises made by the government to pay down the debt of its affiliated organizations in case they fail to make interest payments on time or repay maturing securities.[/font][/color]
[color=#000000][font=Arial, Helvetica, sans-serif]Despite the soaring debt load, which is now a source of concern for the international community, Prime Minister Shinzo Abe has yet to announce whether his administration will go ahead with the plan to raise the 5% sales tax to 8% in April and then to 10% in October 2015. Some of his advisers have been calling for the tax hike to be more slowed phased in, while the International Monetary Fund and the Bank of Japan are hoping the government lifts the tax rate.[/font][/color]
[color=#000000][font=Arial, Helvetica, sans-serif]Outstanding debt of municipalities, around Y200 trillion, are not included in the latest MOF data.[/font][/color][/size]

[George_Brahmi_III]

Mana current account deficit kuda kudipesthondhi economy ni. Rupee will be completely fcked up to 75-80 range in next 3 months i assume.