Japan reaches a trillion – in debt

morning-coffee

With the US having the highest number of billionaires in the world (425) which makes up 34 % of the world total, it is no wonder that Americans have become even more accustomed to thinking casually about what would normally be considered big numbers. For Japan, however, billions are for amateurs. With public debt more than 200 percent of GDP, the Japanese have been dealing in hundreds of trillions of yen - until now. The Japanese crossed into uncharted fiscal territory Friday following news that the country’s gigantic national debt has for the first time just exceeded ¥1,000 trillion - in other words, more than one quadrillion. Just how big is a quadrillion? In yen, as Bloomberg News explains, the amount is larger than the economies of Germany, France, and Britain—combined.

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