Results of Lost 20 Years of Japan
In 1990s, it was said that Japan was in the lost decade. Every journalist and economist in Europe and the US laughed at Japan, while Japan was busy investing in China and other Asian countries.
Then, the US was hit by Islamic terrorists, while Japan was respected by China and other Asian countries.
In 2000s, it was said that Japan was in the decade of deflation. Every journalist and economist in Europe and the US laughed at Japan, while Japan was busy investing in China and other Asian countries.
Then the US triggered the Global Financial Crisis and the EU started to suffer the Euro Crisis.
As of the end of FY 2010, the balance sheet of the Japanese Government was as follows:
Financial Assets of the Japanese Gov....494 trillion yen ($6 tr.)
Fixed Assets, etc of the Japanese Gov....579 trillion yen ($7 tr.)
Total Assets of the Japanese Gov....1073 trillion yen ($13 tr.)
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Total Debts of Local/Central Gov. of Japan...1037 trillion yen ($12.6 tr.)
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That is why the government bonds the Japanese Gov. has issued are traded well with lower interest rate. Also, the yen is evaluated high.
What is more, Japan is the nation having the largest amount of funds surplus in the world.
#...Country....Domestic Funds Surplus
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1. JAPAN.........$3.1 trillion
2. China.......$2 tr
3. Germany......$1.4 tr.
4. Switzerland.....$780 billion
5. Hong Kong.....$689 bn.
6. Russia......$133 bn.
7. Canada.....-$261 bn.
8. UK.....-$299 bn.
9. Italy....-$352 bn.
10. France......-$363 bn.
11. US.....-$3.1 tr.
The above data mean that the Japanese economy has still large capability to lend money to the Government through buying government bonds, etc., though the ratio of government debts over GDP in Japan is larger than that of Greece.
So, it was clearly stupid to think in 1990s and 2000s that Japan was about to go bankrupt like GM in 2009 while diligent and honest Japanese were working as hard as possible like in 1980s, 1970s, 1960s, and so on. But it was what journalists and economists in Europe and the US thought.
So, if you are Europeans and Americans, I recommend you not to trust them as they are clearly foolish without ability to learn Japan and understand Japan.
If you are neither Europeans nor Americans, I recommend you to trust Japanese as they have been working as hard as possible in the erroneously-called lost decades of 1990s and 2000s like in 1980s, 1970s, 1960s, and so on
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For comparison, let's check the balance sheet of the US Government as of 2010:
Total Assets of the US Government: $2.884 trillion
Total Debts of the US Government: $13.473 trillion
So, the US Government has debts 5 times larger than its assets.
For the international accounts of the US:
External Assets of the US...$11.1724 trillion
External Debts of the US....$15.1383 trillion
Net Foreign Debts of the U.S....$3.9659 trillion
Also, let's check how many debts non-financial businesses of the US have:
Non-Financial Business' Debts of the US...$18.6749 trillion
There are also mysterious debts in the US those who are suffering with are unknown:
Debts Whose Borrowers are Unknown in the US....$6.2 trillion
So, it is not simple like in Japan: the state of debts in the US.
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Now cherry blossoms are fully blooming around Tokyo.
Many Japanese go out for watching, enjoying, and holding a Japanese-style of party under cherry trees. Cherry blossoms or trees are called sakura in Japanese as opening up of a flower is called saku in Japanese.
Refer to http://eereporter.blogspot.jp/2010/04/blog-post.html for a story of "modern" sakura.
And, most of elementary, middle, and high schools have many sakura trees in their campus, since the school year in Japan begins in April. And, there are some girls in Japan who have the skin which is as white or pale rose as a cherry blossom. Or if a girl has the skin as white or pale rose as a cherry blossom, they might be blessed in a sense in Japan.
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Act 4:6 And Annas the high priest, and Caiaphas, and John, and Alexander, and as many as were of the kindred of the high priest, were gathered together at Jerusalem.
Act 4:7 And when they had set them in the midst, they asked, By what power, or by what name, have ye done this?
Act 4:8 Then Peter, filled with the Holy Ghost, said unto them, Ye rulers of the people, and elders of Israel,
Act 4:9 If we this day be examined of the good deed done to the impotent man, by what means he is made whole;
Act 4:10 Be it known unto you all, and to all the people of Israel, that by the name of Jesus Christ of Nazareth, whom ye crucified, whom God raised from the dead, even by him doth this man stand here before you whole.