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

<[EMAIL PROTECTED]> wrote in message news:[EMAIL PROTECTED]
> On Sun, 23 Nov 2003 12:34:19 -0800, "Christian Party"
> <[EMAIL PROTECTED]> wrote:
>
> ><[EMAIL PROTECTED]> wrote in message
news:[EMAIL PROTECTED]
> >> On Sat, 22 Nov 2003 14:23:07 -0800, "Christian Party"
> >> <[EMAIL PROTECTED]> wrote:
> >>
> >> >Because the blithering numbers you're accepting are off by two orders
of
> >> >magnitude using any and all estimates of Japan's actual savings rate?
> >>
> >> Wrong.
> >>
> >> >Because I know from direct blithering observation what the Japanese
> >savings
> >> >habits are?
> >>
> >> Because you don't.
> >>
> >> >Because it's blithering absurd for you to think that Japan's total
> >savings
> >> >could be only $2.4 trillion when the Japanese might have saved that
much
> >in
> >> >one year, most of which was deposited in PSAs?
> >>
> >> Idiocy.  _Where_could_that_much_money_come_from_?
> >>
> >> >If you look at it closely, you'll see your error.
> >>
> >> Wish I could say the same...
> >
> >"Where_could_that_much_money_come_from_?"
> >
> >It's called "personal savings", Roy L,
>
> No, it isn't.  I didn't ask where you imagined the money was going.  I
> asked you where it was _coming_from_.  If they aren't spending any
> money on consumption, where does the money they are saving come from?
> Who is paying it to them?
>
> -- Roy L

About a third of it came from the US, as we're one third of Japan's foreign
trade.

In 1973 we had the equivalent of $18 trillion in net worth and no real debt
to speak of.  Today, we have a negative net worth of $18 trillion.  This is
a $36 trillion loss in only three decades.  Where did it go?  Japan.  Where
did the savings in Japan's PSAs come from?  Some of it came from us.  Where
did the other two thirds come from?  The ROW.

Japan doesn't need to have high consumption expenditures to have a high
savings rate when they've got suckers like us around.

John Knight