Article

2010-03-20 Economy

Japan: Bubble prophet fears new disaster

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Posted by tipper 2010-03-20 00:58|| || Front Page|| [11134 views ] Top

#1 Japan is likely to be devastated by a snowballing public debt that will bankrupt its government and trigger catastrophic hyperinflation.

Some economists can see beyond the current deflation and realize the only way out of the sovereign debt 'crisis' is hyperinflation. No other outcome is possible I'm afraid.

Posted by phil_b 2010-03-20 04:36|| 2010-03-20 04:36|| Front Page Top

#2 Yay for $15 big macs.

Posted by gromky 2010-03-20 05:32|| 2010-03-20 05:32|| Front Page Top

#3 Gromky, that also means $20.00/Gallon Gas regular only. premium, don't ask.

Posted by Redneck Jim 2010-03-20 13:28|| 2010-03-20 13:28|| Front Page Top

#4 I'm old enough to remember when farthings were in general circulation in the UK. A farthing was a 1/4 of an old penny.

I believe the current smallest denomination coin in the UK is 1 new pence. Although in practice 5 pence is the smallest denomination in general use.

On that basis (5p is nominally worth about a hundred times more than a farthing), Your Big Mac will go for about $500 and your gallon of gas for about $1,000.

How quickly we forget the effects of inflation.

Posted by phil_b 2010-03-20 14:20|| 2010-03-20 14:20|| Front Page Top

#5 Got my math wrong there,

On that basis (5p is nominally worth about a hundred times more than a farthing), Your Big Mac will go for about $250 and your gallon of gas for about $400.

Posted by phil_b 2010-03-20 14:32|| 2010-03-20 14:32|| Front Page Top

#6 Phew, thanks for the clarification, Phil. You had me worried there for a minute.

Posted by kcs 2010-03-20 16:59|| 2010-03-20 16:59|| Front Page Top

#7 "Yay for $15 big macs."

A practical example...

I paid my 1960 Triumph Bonneville $1,200
brand new in 1960.

For a well worn one today you pay $5000.
Then it was $200.
A nearly new one today is about $12,000

Show how far the Dollar has fallen...

What's next, $5000 an ounce gold?

Posted by Hotspur666 2010-03-20 22:08|| 2010-03-20 22:08|| Front Page Top

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