Thursday, January 06, 2011 11:43 AM

Japan's Finances "Approach Edge of Cliff", Prime Minister Calls For Sales Tax Hike

Japan, which spent itself into oblivion fighting deflation (and losing), now needs to raise taxes in the midst of that deflation.

Please consider Sengoku Says Japan’s Finances Near ‘Edge of a Cliff’ http://noir.bloomberg.com/apps/news?pid ... 9973gvNv_o

Japan’s top government spokesman said the country’s fiscal situation is “approaching the edge of a cliff,â€