Japan total debt crosses one quadrillion yen ! That number translates to 10.5 trillion dollars - an amount larger than the combined economies of the UK , Germany and France ! An amount which 230 percent of Japan's GDP ! Imagine where this numbers soars to as Japan continues QE and at some point in time issues debt to deal with the Fukushima debacle !

Japan Enters The Keynesian Twilight Zone As Total Debt Crosses ¥1,000,000,000,000,000.00.

Submitted by Tyler Durden on 08/09/2013 - 08:04

Back in May 2011, together with forecasting Japan's most epic case of quantitative easing ever unleashed, we presented the absurd, if inevitable, thought experiment of a country that would soon cross into the twilight zone of total sovereign debt numbers that no longer even fit on a simple pocket calculator. The country of course is Japan, and the debt number is one quadrillion. As of last night, the absurd has become real as Japan has officially announced its total government debt rose by 1.7% to¥1,008,600,000,000,000.00.

FRIDAY, AUGUST 9, 2013

Japanese Government Debt Passes One Quadrillion (1,000,000,000,000,000) Yen for the First Time, Says Ministry of Finance

1,008,628,100,000,000, to be exact, as of End of June 2013, but you may find it difficult to figure that out from the press release because the unit that Ministry of Finance of Japan uses in the English press release is "100 million yen".

1,008,628,100,000,000 yen is about 10 trillion US dollars now. (In November last year, it would have been more than 13 trillion US dollars, as yen was as high as 75 yen against dollar.)

In comparison, the US government debt is about $16 trillion, with the US GDP of about $15 trillion. Japan's GDP is $5.86 trillion.

There are many in Japan who say, "We owe it to ourselves. Not a problem."

Ministry of Finance press release, August 9, 2013:

(Click to enlarge.)