In his most recent book, U.S. investor Jim Rogers issues a stark warning over Japan's future. In "Warning To Japan", warned of a dark future for Japan if it does not take drastic measures to curb its massive debt and severe population decline. Here's a few excerpts from the book:
"Japan's national debt is going to swell due to the Olympics, and this can only lead to a bad outcome for ordinary citizens."
"There was such a long period of astonishing prosperity, when everything worked."
"But Japan got so rich, so successful, that... it resulted in huge protectionism."
"If there was somebody in Japan who will say, we got to bear this pain, we have to sort this out. And if we don't, the 10-year-olds in Japan today will have no future."
"But the problem is that the politicians in power today don't want to do that. They know if they cause the pain, it is not going to be good for them."
"They're opening up a little bit, but not nearly enough."
"It's simple arithmetic. The population is going down and they're not having babies. It is straightforward, but overwhelming and frightening for their future."
"Few people have any confidence; they know, consciously or subconsciously, that there is something wrong. Maybe somebody will change things, but I'm afraid I don't see that happening right now. There are too many entrenched interests."
