The IMF continues encouraging Japan to push for the VAT tax and more suicidal debt

Researchers at Tohoku University have established a countdown clock on Japan’s population and have made the forecast that Japan’s population will dwindle to one on August 16, 3766. What has become known as a “demographic time bomb”, Japan’s population has been decreasing for the past 25 years and is only projected to further decrease. Japan’s banking and economic system is based on Keynesian economics (I’ve often wondered if Keynes was a pedophile) as Japan continues racking up ever increasing levels of debt. The confusing part about all this is that the IMF continues cheering Japan on. Makes me think that it was the IMF that after meeting with Japan’s financial elites encouraged Japan’s politicians to institute the VAT tax which is turning out to be a disaster as most observers originally claimed.

Japan’s politicians also decided to impose a value-added tax (VAT) on the nation. As so often happens when a VAT gets adopted, it turns into a money machine, as legislators start ratcheting the rate higher and higher. That happened in Europe back in the 1960s and 1970s, and it’s happening in Japan today.

The biggest problem is that less and less Japanese are saving for their retirement and with increasing entitlement benefits, this combination of factors is putting further pressure on Japan. This in combination with Japan’s shrinking population doesn’t appear to be a very bright future for Japan’s youth as more working poor are seen on the horizon.

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Richmond Berks

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