Demotruk said: The ethos isn't changing so much as the government is doing everything it can to get Japanese people to spend their savings, in order to 'stimulate' the economy. |
But if they spend their savings, the government has to find someone else to borrow from, or outright print money to fund their massive deficit.
The dimension of their gov. deficit is staggering. They're spending more than twice their tax revenue. That's right, more than half their budget is funded by borrowing:
Then again, printing might just be what they need... they get to fund their budget and devalue the currency to help exporters at the same time. As long as it doesn't result in hyperinflation of course.
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