Itai!

That means "Ouch!" or "It hurts!" in Japanese. And hurt it does. Dig this.

TOKYO—Japan's economy contracted sharply in the second quarter after a sales-tax increase in April sent household spending tumbling, which economists said could pressure the government to take additional stimulus measures.

Real gross domestic product, the total value of all goods and services produced in the economy, shrank 6.8% in the three months through June on an annualized basis from the prior quarter.

Not to worry, though. The Japanese government is considering a stimulus package.

208% debt to GDP ratio? No problem! Spend more! Let's make it 250%!