"...As in the US, voters in Japan are fed up with taxes. However, Japanese revenues are not only running dry, but in reverse.
Proving that government stupidity has no upper bounds, Mike "In Tokyo" notes Japan Wasted $78 Billion on Global Warming Research in six years.
Given a 200% Debt-to-GDP ratio, the world's worst aging demographics, and with Social Security consuming 53% of government spending, Japan is in a debt trap with no possible escape.
Japan's debt crisis is rapidly coming to a head, and few are even watching..."
at http://globaleconomicanalysis.blogspot.com/2011/02/japans-social-security-panel-wants-to.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
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