04-11-2009, 09:36 AM
Japan's economic situation is like a nightmare, which probably started the moment the government had to step after the economic bubble burst twenty years ago.
Government debt is probably approaching 200% of GDP, exports have declined by 50% in the past 12 months, rising unemployment and decline in business activity resulting in a reduction in tax receipts, aging population and increased spending on pensions, very low birth rate, a currency exchange which defies gravity (and logic).
A definition of insanity: doing the same thing over and over again and expecting a different outcome. Ongoing stimulus packages from an essentially bankrupt government with no economic credibility. All I can say is, I'm deeply concerned for Japan.
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