July 21, 2011: Public debt and the elephant in the room

[footfootfoot]

Originally Posted by glatt

If only. The Japanese have a long history of dealing with Godzilla. They know how to do it. But this debt thing is going to bewilder them. And with the recent tsunami, nuclear disaster and energy loss, they are going to have a tough time of it. At least their spirits were lifted from that soccer game.

yeah, casting my mind back to the mid 80s when I took Japanese History I remember something about how the financial cluelessness of the ruling class led to the selling of family names to merchants who then rose to respectability.

Despite being good at math...