Bankruptcies and suicides rise as Japanese struggle with mounting debt
Rising interest rates and living costs are causing unprecedented personal debt levels among Japanese households, raising concerns for government officials.
Alright, let me break it down for you. Folks in Japan are feeling the squeeze—debts are climbing like crazy, faster than in the last 16 years. For the first time, people are borrowing more than they’re earning. Now, add low salaries (lowest in the G7) and rising living costs, and it’s a mess. Plus, their central bank is hiking interest rates while others are cutting. It’s a tough spot, no question about it.
