Japan debt down graded

[TexasDevilDog]

http://www.bloomberg.com/news/2011-01-27/japan-s-debt-rating-lowered-to-aa-by-standard-poor-s-outlook-is-stable.html

Japan’s credit rating was cut for the first time in nine years by Standard & Poor’s as persistent deflation and political gridlock undermine efforts to reduce a 943 trillion yen ($11 trillion) debt burden.

Should those interest rates rise to a mere 3% or so, interest on Japan's national debt will consume most of its revenue.

[sc281]

So much for Keynesian economics...

[Denny]

All around the world, same song. It's just the same ol song.

[big_tiger]

All around the world, same song. It's just the same ol song.

"But this is America it wont happen to America."

[stevo]

All around the world, same song. It's just the same ol song.

Damnit, now that song will be stuck in my head




Stevo

[SMEGMA STENCH]

Ugh...