What Will Happen To Japan?

Dr. Michael LaitmanOpinion (Takeshi Fujimaki, former adviser to billionaire investor George Soros): “‘Japan is likely to default before Europe does, which could be in the next five years,’ the president of Fujimaki Japan, an investment advising company in Tokyo, said in an interview yesterday [June 14]. Japanese should hold foreign-currency products, such as those denominated in the greenback, Swiss franc, sterling, Australian and Canadian dollars, Fujimaki said.

“Should the Japanese government default, the yen may weaken to 400-500 per dollar, and the yields on benchmark 10-year bonds could surge above 80 percent, according to Fujimaki. …

“Japan’s public borrowings, the world’s biggest, will balloon to 245.6 percent of its annual economic output in 2014, up from 67.3 percent in 1984, an estimate by the International Monetary Fund shows. …

“‘There’s no way out of Japan’s crisis,’ Fujimaki said. ‘The only option left for Japan is either default or print money into hyper-inflation.’”

My Comment: There is a way out of the crisis for every country and the entire world if we understand its cause—the hyper-egoism of managers—if we begin to transform the world community from antagonistic to fraternal, and if we start to transfer the economy from over-consumption to reasonable consumption through a realistic reduction of infrastructure. Otherwise, the crisis will bring us to this through the destruction of the entire infrastructure.

Related Material:
China And Japan Flee The Dollar, The Euro, And The EU
Japan’s Finances Are Getting Worse And Worse
Global Economy: Is Anybody In Control?

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