{"id":2020,"date":"2010-02-02T23:31:07","date_gmt":"2010-02-02T23:31:07","guid":{"rendered":"http:\/\/blog.widmann.org.uk\/?p=2020"},"modified":"2010-02-02T23:31:07","modified_gmt":"2010-02-02T23:31:07","slug":"japanese-levels-of-debt","status":"publish","type":"post","link":"https:\/\/widmanniana.org\/blog\/japanese-levels-of-debt\/","title":{"rendered":"Japanese levels of debt"},"content":{"rendered":"<p><a href=\"https:\/\/www.mckinseyquarterly.com\/Economic_Studies\/Country_Reports\/The_looming_deleveraging_challenge_2510\"><img decoding=\"async\" src=\"https:\/\/widmanniana.org\/blog\/wp-content\/uploads\/2010\/02\/debt.png\" alt=\"Private and public-sector debt\" title=\"Private- and public-sector debt\" width=\"60%\" class=\"alignleft size-full wp-image-2021\" \/><\/a>McKinseyQuarterly has published a <a href=\"https:\/\/www.mckinseyquarterly.com\/Economic_Studies\/Country_Reports\/The_looming_deleveraging_challenge_2510\">scary article<\/a> (free registration required) that shows how the UK&#8217;s debt (private and public sector) has now reached Japanese levels, far higher than other Western countries, including to the US.  (Hattip: <a href=\"http:\/\/order-order.com\/2010\/02\/02\/through-the-looking-glass-economics\/\">Guy Fawkes&#8217; blog<\/a>.)<\/p>\n<p>I&#8217;m not sure how serious this is in its own right.  For instance, for Japan it is often said that the massive debt is less of a problem because most of the creditors are Japanese, too.  However, this is unlikely to be the case for the UK.<\/p>\n<p>All that I can see is that if the UK&#8217;s debt needs to be reduced to American (or just French) levels, it&#8217;s going to be very, very painful.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>McKinseyQuarterly has published a scary article (free registration required) that shows how the UK&#8217;s debt (private and public sector) has now reached Japanese levels, far higher than other Western countries, including to the US. (Hattip: Guy Fawkes&#8217; blog.) I&#8217;m not sure how serious this is in its own right. For instance, for Japan it is often said that the massive debt is less of a problem because most of the creditors are Japanese, too. However, this is unlikely to be the case for the UK. All that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99,159,105],"tags":[],"class_list":["post-2020","post","type-post","status-publish","format-standard","hentry","category-economics","category-en","category-featured"],"_links":{"self":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts\/2020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/comments?post=2020"}],"version-history":[{"count":0,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts\/2020\/revisions"}],"wp:attachment":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/media?parent=2020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/categories?post=2020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/tags?post=2020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}