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

"Bob LeChevalier" <[EMAIL PROTECTED]> wrote in message
news:[EMAIL PROTECTED]
> "Christian Party" <[EMAIL PROTECTED]> wrote:
> >"Bob LeChevalier" <[EMAIL PROTECTED]> wrote in message
> >news:[EMAIL PROTECTED]
> >> Table 1141 gives how much in government securities are owned by the
> >> entire foreign sector, which is hardly all Japanese.
> >
> >The most significant part of that statement which you ignored, that less
> >than 5% of our public debt is now owned by US households, is far, far
more
> >important than your faulty belief that the $1.6 trillion of "Foreign
Direct
> >Investment in the US" in Table 1141 is the only portion of the public
debt
> >owned by foreigners, or the Japanese, or their PSAs.  With $40 to $90
> >trillion in savings, the Japanese could have set up any number of
"American"
> >companies which they have 100% control of which bought that public debt.
>
>
> >These are the official figures.  The real numbers are undoubtedly much
worse
> >than that.  Where we over-represent savings figures, the Japanese
government
> >under-represents them.
>
> Our savings figures are low, because most Americans save by investing
> in real estate.  Japan's are high, but dropping rapidly.  Whoopie-do
> for them.  I'd rather live here.  But if you want to move to Japan, we
> won't miss you.  Bye Bye.
>
> lojbab

Ha, ha, ha.

Whoever said you don't know how to crack a joke?  Even though it's a sick
joke, it's still worth laughing about.

Our savings are low only because our government spending is high--it's
through the roof.  Table 450 shows that federal spending this year is
expected to be $2,240 billion, and Table 416 shows that state and local
government spending is expected to be $1,910 billion, for a total of $4,150
billion.  With only 106 million households in the US, this is $39,151 per
household, considerably more than the $30,436 median income of black
households and the $33,455 median income of Hispanic households.  How can
these households be expected to save money when government spending is 29%
and 17% higher than total incomes to them?  How can they simply survive
without eating into personal savings and other assets?  The majority of
American household types have median incomes lower than government spending
of $39,151 per household.

This isn't true in Japan, where total government spending is only 9% of
household incomes, and even with such a low cost of government, the Japanese
government is expected to have a 33.3 trillion yen or $303 billion surplus
this year.

Also, more Japanese than Americans own their own home (66% vs. 63%), EXCEPT
that two thirds of Japanese home owners do "own" their own homes--because
they have no mortgage debt at all.  This is called "private property
rights", something our children can only dream about since a two fold
increase in mortgage debt in the last decade, from $3,042 billion in 1993 to
$6,271 billion in 2003, wiped out all such possibilities.

This $3,229 billion increase in mortgage debt is greater (by $308 billion)
than the entire $2,921 billion net worth of all 63 million American
homeowners in 1993 reported by T. J. Eller in the Current Population Reports
issued by the US Census Bureau in September 1995.  Adding to this the
nightmares of $2 trillion in consumer credit, an amount almost twice the
$1.3 trillion in savings institutions (Table 1140 of the 2002 US Statistical
Abstract), our status as the only industrialized nation with a negative
personal savings rate, and the recent $7.2 trillion loss in the stock
market, the sheer concept of private property ownership as defined by our
Founding Forefathers becomes a fleeting dream for our children and our
Forefathers' posterity.

Na, now that I've had time to put your joke into perspective, this isn't
something worth laughing about.
http://members.fortunecity.com/zz8/ushouseholds.htm

John Knight