Her fans knew what they liked, and they sure seemed to like this terrific collection of so many different genres gathered under a single tent. Well, so much for them pesky critic fellas! From a raucous hit song like Buddy Holly's "That'll Be The Day" to a sweet and soulful interpretation of Karla Bonhoff's plaintive "Someone To Lay Down Beside Me", Linda pulls out all of the stops, and although the album was panned critically, it was also her first album to go platinum. She shows here just how versatile and eclectic her approach to some interesting material could be. Like the legendary Johnny Rivers, who always seemed to have a magical touch for turning other people's work into brilliant covers and best-selling albums, Ronstadt here does a star turn with other people's songs. Now that the Federal Reserve is tightening, inflation is rising and corporate profits are drying up, Japan’s government is resorting to some truly weird tactics to pay its bills.This is a classic Ronstadt album, recorded when she was really in her prime, busy cranking out the volume of hits and those seemingly effortless and sometimes facile interpretations of other people's songs, showing just how original an artist she was. Thanks to ultralow interest rates, and the BOJ’s aggressive buying, Tokyo’s debt-financing burden has appeared less severe.
The irony, of course, is that Japanese tax revenues reached a record last fiscal year amid buoyant corporate earnings.
#Hasten down the wind cover how to#
And how to cover the $75,000 worth of debt each of us here represent-nearly double the per capita amount in 2003.
This, at least, seems to be the mindset of authorities desperate to keep Moody’s Investors Service, S&P Global and Fitch Ratings from noticing all that red ink. If that means encouraging young folks to order extra rounds at the pub, then so be it. So, here we are with Tokyo looking to drum up tax revenues any way it can. Surely, Covid-19 didn’t help, but Tokyo had been on an indefinite debt bender for many years. A steadily worsening debt-to-GDP ratio left Japan with quite a preexisting condition once the pandemic hit. It was easier just to issue more public debt and prod the Bank of Japan to increase asset purchases. From 2012 to 2019, the Liberal Democratic Party’s leader, the late Shinzo Abe, pledged to hasten GDP as a means of paying down the developed world’s worst debt load. Yet Japan’s debt was surging in the seven to eight years before most folks in Asia had heard of Wuhan. It’s a reminder, too, that Prime Minister Fumio Kishida’s party is finally getting the 2% inflation it’s wanted for a decade now, it’s not happy about it. Now, the kind way to characterize this borrowing binge is that Covid-19 has been hard on Japan’s economy.
In just three months, Tokyo added the rough equivalent of Ecuador’s annual gross domestic product or two Uzbekistans. That means a roughly 14 trillion yen drop from the previous quarter alone. In the 12 months until July 1, total outstanding bonds and borrowing hit a record 1,255.19 trillion yen, or around $9.3 trillion.
It’s a sobering reminder of how little, if any, progress Japan made over the last decade narrowing the divergence between debt and workers. In 2021, this nation of 125.5 million residents bled some 644,000 people-the biggest declines since such statistics began to be tabulated in 1950. Adding to the financial drama, Japan just posted a record drop in population at the same time its debt has historians revising details about Asia’s No. Data released this week showed that Japan’s government debt per capita has for the first time surpassed 10 million yen, or about $75,000. The reference here is to a grim fiscal milestone. But it sure does help defray my $75,000 tab a bit. Granted, this amount is hardly make or break for a $5 trillion economy. In 2021, duties on liquor added more than $8 billion. Stanislav Kogiku/SOPA Images/LightRocket via Getty Imagesĭitto for Big Booze, which explains why this bizarre story is the National Tax Agency’s baby. Crowds of smokers gather in narrow alleys during lunch break in Nihombashi.
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