Sunday, 11 August 2013 09:09
'How much is 1,000,000,000,000,000 yen worth? Well, a quadrillion yen is worth approximately 10.5 trillion dollars. It is an amount of money that is larger than the "the economies of Germany, France and the U.K. combined". It is such an astounding amount of debt that it is hard to even get your mind around it. The government debt to GDP ratio in Japan will reach 247 percent this year, and the Japanese currently spend about 50 percent of all central government tax revenue on debt service.
Realistically, there are only two ways out of this overwhelming debt trap for the Japanese. Either they default or they try to inflate the debt away. At this point, the Japanese have chosen to try to inflate the debt away. They have initiated the greatest quantitative easing experiment that a major industrialized nation has attempted since the days of the Weimar Republic. Over the next two years, the Bank of Japan plans to zap 60 trillion yen into existence out of thin air and use it to buy government bonds.
By the time this program is over, the monetary base in Japan will have approximately doubled. But authorities in Japan are desperate. They know that the Japanese debt bomb could set off global panic at any time, and they are trying to find a way out that will not cause too much pain.'
Sunday, 11 August 2013 09:06
'So, no one supports your cause? No problem. You can hire supporters- even protesters. A company started last October by 22-year-old Adam Swart provides just this service. In a telephone interview I spoke with Swart about his new found success. “I came up with the idea on a visit to Estonia,” says Swart. At the airport, Swart says he saw a man who was being swarmed by a crowd of excited onlookers. He tells me, “I thought- Why can’t I have that kind of attention?” And so, Swart’s company, Crowds on Demand, was born.
Swart says that business is doing extremely well. According to their website, their office is located in a swanky downtown LA office suite. He says his biggest client so far was a $10k contract, but he would not disclose the client. Not bad for a 22-year-old kid. “We do most of our business through word of mouth. We are able to provide our customers with top-notch service, so they spread the word to other potential clients,” says Swart.'
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