Japanese Debt Tops One Quadrillion – Fukushima Mega Nuclear Disaster Will Only Accelerate Financial Bleeding

Japan is more than likely not going to be any different than the Soviet Union in terms of the financial effects of their nuclear disaster at Chernobyl. Quite possibly, the financial effects of the Fukushima nuclear disaster could be much worse.

According to Japan Today; “Japan’s national debt has topped 1,000 trillion yen….Tokyo has the dubious distinction of having, proportionately, the biggest debt pile among industrialized nations, more than twice the size of its economy.

If anything, the financial impact of the Fukushima disaster will be much worse in Japan, compared to the Soviet Union, because Japan is a much smaller country, with many more people affected by the radiation. Russia was a big country, so percentage wise, many fewer people were affected by radiation. 

Low level radiation cancer causing effects typically do not show up for 4-15 years for most people, so the impact of the Fukushima radiation has not been felt or shown up as healthcare costs/losses and lost productivity from sick time at work YET. But the effect of low level radiation will be felt and experienced soon, and the financial losses will add up.  

Japan cannot afford to take ANY of their small island land, forests or ocean out of production. However, due to the Fukushima disaster, thousands of square kilometers were lost (permanently) due to radiation, or they should be. Could there be a financially motivated reason why Japan is taking such a harsh stand about declaring an end to the disaster, while claiming everything is back to normal, plus inviting people to come back and live, work and farm in Fukushima Province? 
In the Soviet Union, the nuclear disaster at Chernobyl consisted of just one nuclear reactor out of the two that are present there melting down. There were no spent fuel pools involved and the corium did not go beyond the basements, where it cooled off and stopped. Over 1 million liquidators were pressed into service to try and stop the corium from reaching groundwater. The other twin of the two Chernobyl nuclear reactors located at the same place is still operating. However, no such effort was made at Fukushima. They claim to not even know where the coriums are.

For more information about the financial collapse caused by Chernobyl disaster, click on the following link…

Gorbachev; Chernobyl Nuclear Accident Was Real Cause Of The Collapse of Soviet Union; via A Green Road

Japan had 3 nuclear reactors melt down, and at least 3 and possibly 4 spent fuel pools dry out and catch on fire, meaning that the contents of the spent fuel pools at least partially melted down as well. None of the reactors is presently producing power at the Fukushima Daichi complex. 

By just counting the number of large structures and the 2,000+ tons of highly radioactive MOX (plutonium) nuclear fuel involved compared to the much smaller 60-100 tons of very low radiation fresh fuel at Chernobyl, the Fukushima mega disaster is at least 7 -100 times worse financially speaking.

Fukushima Crisis Total Cost; $1 – $10 TRILLION Dollars; via A Green Road Blog http://agreenroad.blogspot.com/2012/06/fukushima-crisis-total-cost-up-to-10.html

The claim of Fukushima being only 10% of Chernobyl as the pro nuclear apologists claim with their fancy computer ‘estimates’, is completely and absolutely ridiculous. Without good data, no one can put their reputation on the line and claim ‘no harm’ or give a hard number for this disaster.

Nuclear Accidents, Recycling Nuclear Weapons/Fuel

There has been no hard data coming out of Fukushima, but plenty of ‘estimates’ and computer models based on miniscule amounts of data, for only very short periods. Many scientists and pro nuclear organizations are putting their reputations on the line by claiming with great certainty that Fukushima is a non-disaster or non event, when compared to Chernobyl.

Worst case, Fukushima could be a triple China Syndrome, which means the mega disaster is still ongoing. Best case, those who are absolutely sure that Fukushima is only 10% of Chernobyl are risking their innocent yet naive reputations. Worst case, they are all hired guns of the nuclear industry, and do not care what their professional reputations look like.

Global Corporations And The 1%; Art And Science Of Deception
The large amount of steam coming from Bldg #3, the 400 tons a day of highly radioactively contaminated groundwater flowing into the ocean, and the leaking 1,000 plus huge ‘temporary’  storage tanks (built to last only one year) are all evidence that Fukushima is an ongoing, active nuclear disaster. 99% of the data and facts have been withheld or covered up about the Fukushima disaster, but there are people who claim to know EXACTLY how much radiation was released. 
No one is looking for the coriums, and no one seems to care where they are, at least in the nuclear industry. TEPCO claims it does not know ANYTHING about where the contents of the nuclear reactors or spent fuel pools are located, much less where they ended up going, so that still needs to play out. But the steaming structures, smoking fissures and pictures of melted fuel coming out of buildings does not bode well for when the truth finally does come out. 
Even without a triple China Syndrome, Japan is in dire straits financially, with most of it’s nuclear reactors shut down after a huge 9.0 earthquake and a destructive tsunami, neither of which Soviet Russia had to deal with. The Soviets also did not have to cram everyone into a tiny island. The Soviets could and did evacuate many people far away from Chernobyl to safer areas, although millions still live in contaminated areas.

Japan has no such luxury. When 30 million people in Tokyo got contaminated with radiation, there was no place to evacuate them, and no money to do it with. Tokyo is highly contaminated, but that fact is also completely covered up, due to the panic it may cause if the truth came out. 

Due to the earthquake and tsunami, much of the fishing industry and infrastructure was destroyed. Much of the real estate and business structure along the East Coast of Japan was destroyed. Much of the transportation and government structure was also damaged or destroyed, including bridges, roads, and government buildings. All of this will take money to rebuild, repair or replace. Where will that money come from? 
No one has yet financially calculated the cost of what was destroyed due to the Fukushima Daichi nuclear mega disaster, such as thousands of square kilometers of forest, agricultural land, housing, businesses, and ocean fishing resources, along with farm animals and crops. These were all taken out permanently, due to low level radiation contamination. Tokyo should be abandoned and everyone should be evacuated out of there. What is the cost of doing what is right? Where does the money come from?
(contaminated areas shown below in brown, red, white and light blue)
Source; Safecast citizen provided radiation monitors
These radiation caused financial losses are effectively permanent, (with a minimum 300 year clock running to time out cesium contamination) unless Japan eliminates radiation testing and uses/sells contaminated products, such as lumber, crops, fish and animals. Anyone can easily see that this is a huge temptation for abuse. But the downside is that using and selling radiation contaminated products also comes with a huge cost for future generations, as they consume or use contaminated products, food and drinks.  

Low Dose Radiation Dangers/Symptoms For Children And Adultshttp://agreenroad.blogspot.com/p/low-dose-radiation-dangers-for-children.html

So far, the international community is not paying attention to testing products from Japan for radiation. But, many major businesses are leaving Japan and relocating elsewhere, which is another financial drain. Many Japanese citizens are leaving Japan, due to the nuclear disaster and the low level radiation contamination risks that they do not feel like taking on. 

Tokyo; Is It Safe To Visit or Live In? via @AGreenRoad

Many Japanese citizens are making the decision to protect their children and assets by leaving Japan and relocating permanently to another country. This exodus of residents with money and brains is another financial loss. Those with the most money and the most intelligence are leaving, and this is the same thing that happened after Chernobyl. Only those who could not afford to move stayed in contaminated areas.

Tokyo; Anyone Who Could Afford To, Left After Fukushima Meltdown; via @AGreenRoad

Could it be that the businesses leaving Japan are experiencing the effects of the Fukushima nuclear disaster, and then responding to it, but they are not talking about it? 

According to Reuters, the Japanese hold 1,500 trillion yen in personal assets. 57% is held in savings accounts.  
Most of the Japanese debt is financed by pension funds and the above savings accounts held by Japanese residents. By comparison, the US finances much of it’s debt through foreign money buying US Treasury Bonds. 
But with the official Japanese interest rate at 0 and financial risk of national bankruptcy looming, how many Japanese citizens will keep buying bonds in Japan, compared to investing in more secure, safer and higher return investments elsewhere? In the Reuters article above, Japanese investors are pouring money into foreign investments by the Billions…
The Japanese total municipal debt is 200 trillion Yen, and is not included in the One Quadrillion Yen Japanese debt figure. Adding the municipal debt would increase the total to 250% of Japan’s total economic output each year.
Greece, Spain, Italy, and other countries are having severe financial problems because they went over 100% of their total economic yearly output in total debt. Japan is now at more than double that figure, possibly 250%. They have not figured out yet how to rebuild what was lost due to the tsunami, much less how to pay for what was lost to the victims of the nuclear disaster at Fukushima. 

Very few people have been compensated for what they lost to radiation, although promises keep on being made. How will the government or TEPCO compensate for all of those losses on 7-15,000 square kilometers of land? Where will the money come from? Over one hundred thousand of nuclear evacuees and nuclear radiation victims are still living in ‘temporary’ housing, years after the disaster. 

TEPCO effectively went bankrupt after the disaster. TEPCO was taken over by the government. Japanese taxpayers are now paying the costs of compensation, cleanup and disaster mitigation, on top of their 250% annual income debt burden. A plan is being proposed to restart the dozens of nuclear reactors in Japan, but there is no insurance to cover anything. Again taxpayers are taking all of the risk, while private companies take the profit and run.

TEPCO Loses ALL Insurance Coverage; Japanese Nuclear Plants; via @AGreenRoad

Japan may be trying to get out from under this huge financial burden by printing more money and inflating their money supply, much like the US and other countries are doing. This seems to be an international race to the bottom. But printing more fiat money creates more debt, which does not really pay down the debt. It just makes the money in savings accounts worthless and makes the Japanese bond holders lose money even faster, through inflationary losses.

Printing money with nothing backing it up also has the effect of reducing REAL wages, thus reducing real spending, which is a vicious circle that all countries are experiencing, including the US. 

Another strategy that the Japanese government is proposing, is to increase the sales tax by 10%. But the food costs in Japan are already double what they are in the US or Europe, so this will probably have the opposite of the intended effect, as people start growing their own food instead of buying it and doing without, thus shrinking sales tax revenue. The net impact of increasing sales taxes will more than likely be a net decrease in consumption.
The average debt for a newborn in Japan is approximately 20 million Yen, excluding those who receive a pension, because they are not going to work and pay back this debt any longer. This amount equals more than $200,000 US Dollars. Add on college and housing and car debt, and one can see how unrealistic it is to require citizens to repay this debt. Then add to this existing debt, the nuclear disaster, earthquake and tsunami financial hits. 
Due to inflation, the effects of the nuclear disaster, tsunami and earthquake, plus a shrinking economy, plus an exodus of capital, investment and citizens, plus rising debt, all at the same time, the assets of Japan are losing value faster and faster. 
It is estimated that in the last few years, the value of Japanese held assets has lost 50% or more of it’s value in real numbers. What is someone willing to pay for the theoretical 400 trillion in assets held by the Japanese? Would you pay something for a shut down nuclear plant? Would you pay anything for 15,000 square miles of radiation contaminated land, buildings, businesses, forests or fish? 
If the Japanese sold everything they had right now to pay off debts, they would probably be lucky to get 10% or 40 Trillion of the 400 trillion that they claim to hold a value on with government owned assets. 
Bottom line, Japan is playing a Ponzi scheme with it’s debt, because there is no realistic way for them to pay that debt off. “A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation.

The Ponzi scheme usually entices new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. Perpetuation of the high returns requires an ever-increasing flow of money from new investors to keep the scheme going”.[1]

Our prediction is that the last people holding the Japanese bond debt will be the biggest losers in the longer term. Before the nation goes bankrupt or into further financial decline due to the overwhelming financial bleeding and accelerating losses from the nuclear disaster, tsunami, earthquake and exodus of businesses/citizens, expect to see draconian measures instituted, including a possible martial law plus restrictions on citizens leaving the country.

Japanese Debt Tops One Quadrillion – Fukushima Mega Nuclear Disaster Will Only Accelerate Financial Bleeding; via @AGreenRoad

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