Mowog

Is Japan Heading Towards an Economic Earthquake?

Japan has a national health system running on debt fumes and a national pension scheme (credits of which can be exchanged with SS's, for US expatriates here) running on the fantasy fumes of children that aren't being born in a nation that will not allow mass immigration. The government is deep in debt and towns are closing hospitals, declaring bankruptcy, and turning off lights during working hours to save money. Those government pensions aren't cutting it and crime among the elderly, especially shoplifting, is increasing. Recently a woman in her 70s stabbed a stranger solely because she knew she'd be fed, clothed, and taken care of in prison. The savings rate is dropping among the young, credit card are taking off (finally!), and "working poor" is a hot media topic. But it's still physically safe. That's Japan today. Tomorrow?