routsounmanman on 05 February 2010
NJ5 said:
Yes their GDP is more than $4 trillion, so they have around $8 trillion in debt. Interestingly, almost all their debt is owed to Japanese people. They have big savings so the government doesn't have to go borrow from foreigners.
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So basically, the Japanese government went bankrupt, borrowed money from Japanese people themselves and drove them bankrupt too... What happens next year, when they still post deficits?
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