National Debt

[LostKiwi]

Can I ask a question. What has happened to Japan ? Why are they so in debt ? They were the world's most successful economy for most of the 70s and 80s, look what Japanese competition did to our Western industries.

The Global 2008/9 recession hit them hard then they were whammied with an earthquake and tsunami (and a few more smaller earthquakes for good measure).

 

[davemercedes]

As you say, about twenty years ago they didn't have an inflation/debt problem but everything from a hotel room to a MacDonalds was extremely expensive for the Japanese. I had a big project with a Japanese company and we all talked about a lot of stuff... there was an allegedly true statistic:

- If the emperor had chosen to sell his palace and grounds, he could have bought Canada! (Yes, all of it!!!)

 

[Craiglxviii]

They had 20 years of stagnated economy to contend with too...