Saturday, September 1, 2012

Too late, Greece and Spain got all the cash

Japan plans to cut state spending, could run out of money in a month

"The government running out of money is not a story made up. It's a real threat," Finance Minister Jun Azumi told a news conference, making a last-ditch appeal for cooperation by opposition parties to pass the bill". "Failing to pass the bill will give markets the impression that Japan's fiscal management rests on shaky ground," he said. (Can't they just print some more? Everyone else is doing it)

Posted by alan @ 01:29 PM (1250 views)
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4 thoughts on “Too late, Greece and Spain got all the cash

  • Notthefinancialtimes says:

    Your web site is very informative, could you try to find out how many derivatives are tied to the Sub prime market in the UK? Also how many are tied to Japanese Debt?

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  • cant they borrow more from the public?

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  • Think about it, Japan is the elephant in the room that everyone has ignored because they are too busy watching europeans make idiots of themselves. Struggling manufacturers, huge bill for energy imports to replace lost/shut down reactors, technically bankrupt power companiies, stagnant economy, ageing population and China & Korea rapidly pulling ahead. This will be another one to watch.

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  • Yes they can just print more as they are sovereign and monopoly issuers of the Yen. They have had national debt multiples of GDP for decades and have not been collapsing. Will the tsunami costs will be used to pull the wool over people’s eyes? It is very inconvenient to many powerful interests that there is a counterexample around to current monetary orthodoxy. Is this just hysteria in the interests of the financial sector and Washington consensus global governance elite.
    N

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