Greece's debt problems may currently be in the spotlight but Japan is walking its own financial tightrope, analysts say, with a public debt mountain bigger than that of any other industrialised nation.
Public debt is expected to hit 200 percent of GDP in the next year as the government tries to spend its way out of the economic doldrums despite plummeting tax revenues and soaring welfare costs for its aging population.
Japan "can't finance" its record trillion-dollar budget passed in March for the coming year as it tries to stimulate its fragile economy, said Hideo Kumano, chief economist at Dai-ichi Life Research Institute.
One by one, the global economic dominoes continue to fall.
And the question is, for thinking Americans, when the US will simply collapse of its own indebtedness?!? As reported at:
The US national debt, as of today, is:
$ 1 2 , 8 4 1 , 5 0 5 , 3 0 5 , 6 2 6 . 0 6
That's twelve trillion, eight hundred forty-one billion, five hundred-five million, three hundred-five thousand, six hundred twenty-six dollars and change.
And with interest on this debt, it is rising by the second.