Can all of you correctly count the number of zero’s in the below figures?
1038000000000000 and 2170000000000… first figure is in “Quadrillion”and second one in “Trillion”.
What are these? They are how much debt load Japan and Italy each have!!
That’s 1.038 Quadrillion JPY (1 US Dollar = 102.45 Japanese Yen) and 2.17 Trillion EUR (1US Dollar = 0.75 Euro), both broke records.
Below charts show Japan and Italy’s sovereign debt loads and their borrowing cost in terms of 10-year yield (interest rate):
Note Italy’s economy (GDP) just recorded the 2nd quarterly contraction in a row, an official definition of a “recession” while Japan reported a 6.8% plunge in GDP in Q2 due to increase in consumption tax from.