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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Step1 who wrote (2305)12/14/1999 12:40:00 PM
From: Sam  Read Replies (2) of 3536
 
Stephan, Henry, all,
"Japan, as the second [largest] economy in the world is hugely important in the overall picture."
I'm not at all picking on you for that comment, Stephan, it has been repeated many times, but is it really true?
They have so much debt and future liabilities, I wonder. Debt is a fine thing for countries if it is used to build necessary infrastructure, and it can be paid back if there are enough productive resources in the economy to accommodate it, but is that how their debt was actually acquired and used? I don't have a clue how to assess how much of the debt will in the end have to be written off as worthless or how much of the liabilities will turn out to be unfunded unless it is with inflated Yen, but at what point does Japan stop being the "second largest economy" in the world? then again, perhaps it doesn't matter....
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