Its enough to know that Greece's debt problems hasnt been settled.. its worse to know that Japan is walking its own financial tightrope with a "public debt mountain bigger than that of any other industrialised nation". And hear this: Japanese's Public debt is expected to hit 200 percent of GDP in the next year as the government tries to spend its way out of the economic doldrums despite plummeting tax revenues and soaring welfare costs for its ageing population. And based on 2010's fiscal nominal GDP (of 475 trillion yen), Japan's debt is estimated to reach around 950 trillion yen -- or roughly 7.5 million yen per person. "Japan's revenue is roughly 37 trillion yen and debt is 44 trillion yen in fiscal 2010, its debt to budget ratio is more than 50 percent. Without issuing more government bonds, Japan "would go bankrupt by 2011".
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