politics

U.S. must grasp global impact of debt crisis: Japan

15 Comments

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Contrary to the scare-mongers who claim a 'catastrophic' incident, should the US default on its obligations, I believe we should let it ride. The US is truly no longer the world's bank, nor is its currency any more important than China's yuan, Russia's ruble, England's pound, nor the (seemingly faltering) Euro. Finance ministers and G20 bankers that do the Chicken Little 'sky is falling' dance should let the sky fall. Fact is, it won't. The world's economy may go into recession, but if you owed more than you can possibly pay in a lifetime (or worse, your childrens' lifetime) you'd be a scourge on all who know you. Western societies (and Japan's) have been living beyond their means for more than fifty years. Who's got the guts to stop it? All this conspicuous consumerism - and Japan's the worst example - has raised an ugly nine-headed immortal Hydra that puts that mythological Greek (there's another bankrupt country) in the baby seat of your new car. Don't look back, it'll bite your head off.

4 ( +4 / -0 )

The prospect of default has been manufactured by the democrats. America will not default but they are trying to scare everyone. Perhaps the world should read our constitution which makes it mandatory to not default. Government spending must decrease before America can default. A decrease in spending is what America needs. I hope the republicans and the tea party can hold the governments feet to the fire to end the debt that Obama is accruing.

-1 ( +4 / -5 )

lol, as if the US cares what Japan thinks about anything...!

-7 ( +2 / -9 )

It's amazing how backwards the mainstream coverage of this issue is.

The problem isn't the debt ceiling, the problem is the debt.

Japan has an even worse debt problem than the US, just they don't have any built-in legislative alarm bells like the US debt ceiling to bring appropriate attention to it.

That the governments have their central banks buying up loads and loads of the debt to artificially keep borrowing costs low only serves to mask the problem and delay the big bang or distort the ultimate shape in which it descends upon us.

2 ( +2 / -0 )

If the US government would STOP giving away BILLIONS of our / my tax dollars every year on "Foreign Aid ", you would see the Economy SKYRocket again, I'm sure. Start with Egypt.

-2 ( +0 / -2 )

Give Alaska to Japan in exchange for the debt?

China can have Florida?

humor aside; big problems need big solutions. I need paying for ideas that help (on a success basis only).

2 ( +2 / -0 )

Japan is stupid for having bought 1.1 trillion from the US. They will default eventually.

1 ( +2 / -1 )

as if the US cares what Japan thinks about anything

America should start caring what the world thinks. The time of American exceptionalism is long past.

0 ( +4 / -4 )

The Americans will never pay its dept as long as the private federal reserve is allowed to Exist! And print funny money. The dollar is WORTHLESS! Full Stop!

1 ( +2 / -1 )

Ha ha! The shrinking violet giving advice to the US about economic impact! Classic!

-6 ( +0 / -6 )

And once again we have Aso, who can't manage things back home, telling others what needs to be done.

-4 ( +0 / -4 )

I bet Aso really wants to say to U.S. politicians: Get with the program already, you nitwits!

0 ( +2 / -2 )

Serrano: "I bet Aso really wants to say to U.S. politicians: Get with the program already, you nitwits!"

No doubt. The failed former PM now recycled to Finance Minister would probably like to say this -- via manga of course, and only in Hiragana and Katakana given the man can't write his own language.

-4 ( +0 / -4 )

The US (especially the GOP) is really being irresponsible about this and making themselves look quite pathetic really.

0 ( +3 / -3 )

Republican Party’s ultra-conservative Tea Party faction appeared to be unaware of the wider implications

..of basically everything!

2 ( +3 / -1 )

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