Speaking of the Harbour in Hawaii ...
Did you know ...
1. Japan's national debt is now 18% of global GDP
2. 65% of Japanese tax receipts retained by Central Government are vaporized servicing the debt
3. Long term debt exceeds revenue by more than 15:1
4. If Japanese Govt were a company, then sub-par junk rating, at best
5. 95% of Japanese public debt is owned by Japanese investors, and Japanese savings represent 1/3 of the world's savings
6. Japanese bank holding of JGBs tally up to 600 billion USD
7. On present growth path, Japanese national debt will be 290% of GDP by 2010
8. US current account defit is well over USD 400 billion
9. US and Japan is on the same boat, it would appear, just not certain of the boats name, but the letters I.I.T.A.N.I.C are vaguely discernable. First letter could be a T.
Either way, I think the US government ought to go easy on the Japanese concerning the direction and speed of their reforms, lest they make a mistake and ignite the whole construct, unless Mt. Fuji does it to the construct first.
As I had mentioned before, it is possible that the bubble migrates, tranfers, propagates across national borders, asset classes, start small, end in big booms and then, kabooms.
I will be able to post the article (by agence france-presse) out of news archive in 1 or 2 days.
Chugs, Jay |
