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So, yeah, this could be bad
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What's even worse for Japan is their long term outlook. As a result of their economic policies in the 90s trying to support their economy as it stagnated following the burst of a huge property bubble (sound familiar?), they were already running debt-to-GDP projections of 181% at the end of FY 2011. Now I can't imagine what they will be at, with billions (trillions?) in damages.
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