Re: Does Japan's $93 trillion monetary base include their Postal Savings Accounts?

"Christian Party" <[EMAIL PROTECTED]> wrote:
>> >> The public debt is not relevant, since that is both an asset and a
>> >> liability: most of the $6 trillion in public debt is owed to people
>> >> (1/2 trillion in US treasury notes is part of the household assets)
>> >> and US businesses, which people own.
>> >
>> >Yeah, the people own it allright.  The Japanese people, not the American
>> >people.
>>
>> Nope.  As I broke out elsewhere, almost half of the American debt is
>> owed to the social security and medicare accounts, and to other
>> Federal accounts.  See below
>>
>> >You were obviously looking right straight at that chart, so you
>> >obviously did notice that TOTAL US government securities owned by US
>> >households was only $539 billion in 2001, down 46% in only 5 years.
>>
>> And down only trivially in 11 years.  The bond market goes up and
>> down, just like the stock market.
>
>Which ignores the point that American households own a VERY small portion of
>the public debt, which refutes your statement that most of this public debt
>is owned by "the people" [where it was presumed that you referred to
>American people, rather than the Japanese people who DO own most of it].

Table 1141 gives how much in government securities are owned by the
entire foreign sector, which is hardly all Japanese.

>What you just recognized is the possibility that wild swings in our stock
>market, wherein stock "values" like Cisco accelerated to 32 times revenues
>[which compared to stocks like Fujitsu whose stock value is one fourth of
>revenue were over-rated by 132 times] were caused by these foreign
>"investors".

I don't recognize any theory of yours as anything but obnoxium pulled
out of your strange orifice.

>Add to that the mere specter that a 10% drop in housing prices would cause
>mortgage debt to exceed the asset value of the underlying real estate,
>leaving an American citizen in the unenviable position of having a net worth
>lower than a Sub-Saharan African in the bush.  This of course ignores the
>almost $2 trillion in consumer credit which isn't backed by anthing, and
>which WOULD already put us under water if it were included.

Household financial assets were $90 trillion.  That did not count real
estate.

>And we really don't even know yet how much trouble the "social security"
>system is in.

Actually, we do.  But it is a sure thing that you don't, but will
probably trot out some more obnoxium from your strange orifice about
the subject.

lojbab
-- 
lojbab                                             [EMAIL PROTECTED]
Bob LeChevalier, Founder, The Logical Language Group
(Opinions are my own; I do not speak for the organization.)
Artificial language Loglan/Lojban:                 http://www.lojban.org