Japan eyes 39.3 trln yen in new JGB issues in FY05

TOKYO, Aug 26 (Reuters) - Japan plans to issue 39.3 trillion yen ($356.9 billion) in new government bonds (JGBs) in the fiscal year starting next April in a plan based on initial budget requests, a draft showed on Thursday.

Koizumi is so completely full of shit. An article from last year explains a bit of the relevance of this amount here:

"He's said quite a few things but if you look at them one by one, you find he hasn't followed through hard enough or he has abandoned them," said Shigenori Okazaki, political analyst at UBS Warburg in Tokyo.

"The biggest example is the the 30 trillion yen (272 billion dollars) JGB cap. He not only abandoned it, he said abandoning it was not such a big deal," Okazaki added, referring to Koizumi's broken promise to limit Japanese government bond issuance.

So now we have ratcheted it on up to 39.3. Do I hear 40 in 2006? What a fucker.

Who here thinks Japan will be livable in the next few decades, when all this mess is going to come due?

Captain Japan wrote:Who here thinks Japan will be livable in the next few decades, when all this mess is going to come due?

The guys here do:

FG Thread: Japan not in Public Sector Debt death-spiral

Funnily enough, this analysis was wildly popular when foreign investors were bullish on Japan but I haven't heard too many people cite it recently.

Mulboyne wrote:The guys here do:

FG Thread: Japan not in Public Sector Debt death-spiral

Funnily enough, this analysis was wildly popular when foreign investors were bullish on Japan but I haven't heard too many people cite it recently.

I started to read this when you posted it originally but stopped when I realized that the basis of their premise had something to do with some kind of overlapping of debtors and creditors. I just can't believe it is all that easy.

I think their argument can be summarized as "it'll all come out in the wash". I don't think I'll be using that in any investment return calculation soon.
Actually, they are right about the cross lending but I'd like to see someone try to cancel it out. You can only do it if net debt is zero and you make simultaneous capital transfers.
Here's one little company debt maze I encountered recently:
A lent to B, C & F
B lent to C
D lent to B and E
E lent to A
F lent to D
On paper, there was a solution. In practice, D and F went bust and A was crippled, needing a capital injection. Timing and cashflow are everything.

Yeah, Koizumi is really full of shit.
The idiots that voted for him are even more full of shit.
Just saw that the Komeito party is now strongly pushing Koizumi to give foreigners with permanent residency the right to vote.
With their support crucial to the LDP, they may pull it off but resistance in LDP is still strong.

found a thread on the japan today website

http://forum.japantoday.com/Japan_stealing_its_citizen%27_s_savings/m_35000/tm.htm

Koizumi can't count how much money he's stealing

Captain Japan wrote:

Mulboyne wrote:The guys here do:

FG Thread: Japan not in Public Sector Debt death-spiral

Funnily enough, this analysis was wildly popular when foreign investors were bullish on Japan but I haven't heard too many people cite it recently.

I started to read this when you posted it originally but stopped when I realized that the basis of their premise had something to do with some kind of overlapping of debtors and creditors. I just can't believe it is all that easy.

another winner here

[quote]State debts balloon to record Y729 tril


Saturday, September 25, 2004 at 07:43 JST
TOKYO &#8212]

and here

http://www.fuckedgaijin.com/forums/showthread.php?p=74036#post74036

Astronomical oil prices whack the Nippon exports

trade surplus fell in February, the second month in succession it has fallen

Economists blamed the decline on the recent surge in oil prices, which increased the value of imports into the country. Yet exports were also weak.
Official Japanese data showed that the surplus fell 21.7% in February to 1.093 trillion yen

"What's worrying is that exports, on a volume basis, are down from year-ago levels, notably those bound for Asia"

wonder if the S.Koreans are gonna start a boycott ?

Hey i'm just waiting to see what happens after The Big One...