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Japanese household assets hit record ¥1,903 tril

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Here is where the "debt" gets covered!

5 ( +6 / -1 )

"Cash and deposits gained 2.3 percent to 1,008 trillion yen" - How is this possible, when interest rates on savings and CDs are negligible?

-7 ( +2 / -9 )

@Expat. They spent less of their paychecks monthly and saved more.

9 ( +9 / -0 )

Compared with Americans who have the largest amounts of personal debts.

4 ( +7 / -3 )

It's all that hoarded toilet paper.

0 ( +6 / -6 )

Tom:

They spent less of their paychecks monthly and saved more.

I guess salarymen giving their paychecks to their wives has some benefits.

3 ( +5 / -2 )

Think it might be a few benifiting rather than the many that skews these figures. Although after 7 years of Abenomics spending has become a luxury rather than a norm. Can't spend it if you get taxed and don't earn enough to begin with. See cup noodles are extremely popular as Aso San predicted.

1 ( +2 / -1 )

Prediction; Abe will announce some drastic measures next week. Better stock up with food and essentials to last a month or so. This will be a last ditch effort to save the olympics.

-1 ( +0 / -1 )

1,903 trillion yen that is 18 trillion US. That is just the households. Japan a rich an powerful country.

-6 ( +3 / -9 )

 Japan a rich an powerful country.

Japan would have nothing without the people, and their money is what is propping up Abe, the LDP and their failed policies!

3 ( +5 / -2 )

@JeffLee

Not out of duty but out of fear: the younger people now know social safety net like pension or unemployment benefit will not be there by the time they need it.

The finance ministry's outstanding debt stood at over 1,200 trillion yen while BoJ's forced hoarding, or Abenomics, at 538 trillion as of Dec 31, 2019. Needless to say, the recent equity market turbulence will uptick workers' saving for their rainy days which might arrive earlier than expected.

1 ( +1 / -0 )

The outstanding balance of Japanese government bonds rose 1.9 percent to 1,132 trillion yen. The BOJ's holdings climbed 3.6 percent from a year earlier to 495 trillion yen, or 43.7 percent of the total.

So 40% of Japanese government debt is the debt it owes to itself.

0 ( +0 / -0 )

And then there are JT "economic experts" who still don't get how RICH Japan actually IS.

Word's biggest creditor, "Japan’s net external assets were about 1.3 times those held by Germany, the world’s No.2 creditor nation with $2.35 trillion in net assets at the end of last year, followed by China.", 98% of internal debt (Word's highest, but not understood by JT "expertise"), largest amassed private wealth, stuffed under mattresses and inside cupboard (literally).

American financiers would love to stick their "filthy" paws into such large amounts of cash, that's for sure. That's why they've been pushing for Japan to open up to external investment, allowing foreigners to own large amounts of Japan's debt; so far Japan said Niet. And I support them.

Get foreigners to own your debt and the game or running the world's biggest private debt is over. This is something that CANNOT be recreated anywhere else in the world, as ONLY the Japanese would put up with 0% interest rates on Government Bonds, without guarantee of return of the initial capital investment.

Only in Japan. I admire them for that.

-4 ( +1 / -5 )

"Why is the public debt situation in Italy worse than in Japan?"

"Japan’s public debt is much higher than in Italy, as a share of GDP (roughly 240% vs. 130%, though sources differ). The difference in net debt is not nearly as large, but still significant. And yet Italy must pay a substantial risk premium on its public debt (third largest in the world), whereas Japan (with the second largest public debt) pays roughly zero interest rates on borrowed funds."

"In previous posts I’ve discussed one difference; Japan borrows in its own currency whereas Italy borrows in euros. Thus buyers of Italian debt face a positive default risk, whereas buyers of Japanese debt face a near-zero default risk."

https://www.econlib.org/why-is-the-public-debt-situation-in-italy-worse-than-in-japan/

-2 ( +2 / -4 )

The demographic funnel.

0 ( +0 / -0 )

Well, the inheritance tax man is going to take around 55% of this amount (which is savings after paying income tax). Government debt problem solved if they apply this to debt service....

1 ( +1 / -0 )

In the UK households' dream of being in credit. Unfortunately, it's required to be in debt. Please Japan don't let the money men enslave you.

1 ( +1 / -0 )

Well I’m glad the Japanese people are choosing to save more of their money, as opposed to Americans, which have spent it willy-nilly for who knows how many years now. I’m just saying that the shows that the Japanese are being more and more responsible with the money as time goes on, and then Americans could take a lesson from that. That’s all.

0 ( +0 / -0 )

@fumio

 the younger people now know social safety net like pension or unemployment benefit will not be there by the time they need it.

"Know"? How do they "know" that? And why would that happen? It's not happening now. Further, the social support payments are made in yen. Japan would have to run out of yen - a currency it has the sole authority to issue - for that to happen. How would that happen?

0 ( +0 / -0 )

The virus probably nullified this report, the smallest thing sure makes big changes.

0 ( +0 / -0 )

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