Japan's PM faces intraparty revolt over tax hike

Japan is in deep serious trouble the moment it enters a sustainable period of negative or neutral current account balances. If Japan becomes dependent foreigners to finance rollovers on its debt either the Yen sinks or interest rates rise. Interest rates at a mere 3% would currently consumer all of Japan's tax revenue. Japan’s Fiscal Pressure Intensifies

With Japan's public debt about to hit 240% of GDP, Fitch Downgrades Japan's Sovereign Rating The ratings agency Fitch on Tuesday lowered its assessment of Japan’s sovereign credit to A+, an investment grade just above the likes of Spain and Italy, and criticized Tokyo for not doing more to pare down its burgeoning debt.

Japanese Prime Minister Yoshihiko Noda was on Tuesday facing a sizable mutiny from his fractious party that could threaten his government, as lawmakers readied to vote on controversial tax bills.Legislation to double sales tax in an effort to chip away at Japan's mountainous debt was widely expected to pass a lower house ballot, despite a rebellion by up to a quarter of ruling party members.

TOKYO (Reuters) - Prime Minister Yoshi