Japan Going Bankrupt?

According to Hideo Kumano, chief economist at Dai-ichi Life Research Institute, Japan’s “debt to budget ratio is more than 50 percent” and without issuing more government bonds would be bankrupt by 2011.

This comes on the heals of strange reports from friends working in the Japanese IT industry. Supposedly Japanese tax collectors are showing up, unannounced, at medium and large-sized IT gaishikei, rifling through the books and insisting to peak into the accounts of executives.

Hmmm.

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