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1/3 of households in Japan on edge of bankruptcy: BOJ study

from Japan Today

Astonishing but true: one-third of all Japanese households have “zero savings,” says Spa! (July 17-24), citing a 2017 Bank of Japan study. Zero savings. You’re employed, not poor, maybe even rich — which is interesting, because a problem one naturally associates with poverty in fact goes far beyond it, for the simple reason that the more money you have the more you’re likely to spend, with scarcely a thought for tomorrow, until something happens — an illness, a pay cut, the birth of a child — and tomorrow, to all intents and purposes, is here, and you’ve nothing to meet it with. more

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