Japanese Bankruptcy

We have blogged on this in the past....but here is the headline for today;
Risk of Japan going bankrupt is real, say analysts

Greece's debt problems may currently be in the spotlight but Japan is walking its own financial tightrope, analysts say, with a public debt mountain bigger than that of any other industrialised nation.

Public debt is expected to hit 200 percent of GDP in the next year as the government tries to spend its way out of the economic doldrums despite plummeting tax revenues and soaring welfare costs for its ageing population.

Without issuing more government bonds, Japan "would go bankrupt by 2011", he added.

Hey....? Aren't we trying to spend our way out of the doldrums too? I wonder if I should tell all my clients with debt problems to go borrow some more money to buy some more stuff to help them cure the doldrums?

This Japan thing could be deadly serious folks. They are the 2nd largest economy in the world and if they start revealing their financial mess....there is no telling where that pulled string would stop tearing.

See it here; http://www.breitbart.com/article.php?id=CNG.30b0af6cedaeea0c534159df58ea26d3.1f1&show_article=1