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Thread: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

  1. #21
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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by DA60 View Post
    The point was not if and or when they default.

    The point was that they cannot EVER default on their own people (both politically and practically) but they can default on foreign owned debt.

    So when people say that Japan has an advantage that it's own people/institutions own the debt, that is NOT an advantage...that is a disadvantage.


    And patriotism?

    No one is patriotic if they eventually are starving or about to be thrown out of their home because suddenly the government 'investments' they bought are suddenly declared worthless by that government. They just want their money.
    This isn't WW2 when most Japanese thought Hirohito was a semi-god and they were so ignorant/brainwashed that they did almost anything he/the government said.


    There is NO WAY the government will default on it's domestic held debt unless a) they have a political death wish, b) they are in a major war or c) they had a natural disaster about ten times worse then the March '11 tsunami.

    You want to believe otherwise - go ahead.

    I don't really care much.
    Dude, I said... the government wont default. You are the one going all nutso over the comment.
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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by DA60 View Post
    75% poorer? That is your standard?
    No that is your standard since you bring in the stock market....
    PeteEU

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by PeteEU View Post
    Dude, I said... the government wont default. You are the one going all nutso over the comment.
    Riiiiight...check your post at post #15 (about 80% of which I skipped over, btw). Talk about going nutso?

    Anyway, the above is not for you, it's for those with an open mind who do not know the situation.

    I NEVER try and debate with (seemingly) closed minded people like you...waste of time.


    Have a nice day.
    Last edited by DA60; 09-03-12 at 09:12 AM.

  4. #24
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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by DA60 View Post
    Riiiiight...check your post at post #15 (about 80% of which I skipped over, btw). Talk about going nutso?

    Anyway, the above is not for you, it's for those with an open mind who do not know the situation.

    I NEVER try and debate with (seemingly) closed minded people like you...waste of time.


    Have a nice day.
    Eh show me in post 15 where I say they will default? I in fact state they wont because of several reasons. /shrug.
    PeteEU

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by The Prof View Post
    what went wrong?
    apparently, there was a minor problem with trickle down theory. the problem is that when the lower socioeconomic groups run out of money and credit due to lack of well-paying employment opportunities, the upper groups don't spend money widely enough to sustain an economic ecosystem. they then proceed to eat themselves, and the system progresses towards collapse.

    that some are proposing that the solution is more trickle down is somewhat astounding.

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    absolutely

    sacramento, springfield, athens, brussels, tokyo...

    too much trickle down

    LOL!

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by Helix View Post
    apparently, there was a minor problem with trickle down theory. the problem is that when the lower socioeconomic groups run out of money and credit due to lack of well-paying employment opportunities, the upper groups don't spend money widely enough to sustain an economic ecosystem. they then proceed to eat themselves, and the system progresses towards collapse.

    that some are proposing that the solution is more trickle down is somewhat astounding.
    Your describing the worst case scenario. Trickle down (free market) works. Its as simple as that. What i find astounding is those who think re-distribution of wealth is a better solution. That somehow we can sustain it. That the rich will always have money to take and the poor will always be poor.

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    The high level and long term government stimulus in Japan has been good and bad for Japan, it prevented a collapse of the economy after the asset bubble crash, but it helped prevent the structural changes in the Japanese economy that have been required. Now with Japan having trade deficits rather then surplus's the ability of the government to afford the stimulus spending is has been reduced. Japan of course can go the route of QE, as a means to lower the drastically rising Yen, but it does not change the fact that Japan requires some structural changes in its economy, and it needs it soon
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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    The Public debt there is over 200% of GDP. List of countries by public debt - Wikipedia, the free encyclopedia How in the world could they ever let themselves get that deep into it? The problem with living on debt is that sooner or later, the debt has to be payed back. Servicing that debt is going to take up greater and greater portions of the available money, causing the need for greater debt to maintain the same level of services.

    Take a look at their tax rates, there is not very much room to raise it before it just decimates individual income. Higher corporate taxes also chases away business.

    Their opposition is right to try to stop the bleeding from debt and not allow more. Yes, austerity measures are going to hurt, but so will total collapse. Yet another country where the government providing social services has driven the budget and debt to unsustainable levels. We really need to wake up in the US and realize that we are headed down the same road. Our debt is over 100% GDP, way, way to high. It is time to make austere cuts to entitlements where we can, otherwise, we are now to the point where our debt will cause us even more debt just to service it.

    Cut some now or cut all later, that is our choice and we need to make it. Do we have room to raise taxes, maybe, a overhaul of our tax system is needed, but taxes alone will not make up the difference and we can ill afford to keep piling on debt.

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by Dpetty View Post
    Trickle down (free market) works. Its as simple as that.
    i suppose that it depends on your definition of "works."

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