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

<[EMAIL PROTECTED]> wrote in message news:[EMAIL PROTECTED]
> On Tue, 25 Nov 2003 11:12:03 -0800, "Christian Party"
> <[EMAIL PROTECTED]> wrote:
>
> ><[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?
> >
> >About a third of it came from the US, as we're one third of Japan's
foreign
> >trade.
>
> Where did the rest come from?
>

Japan's other "trading partners", who constitute twice the business that
Japan conducts with the US.

> And in any case, foreign trade is only a fraction of Japan's GDP, and
> much of what the US pays Japan Japan pays back for US products.  Your
> explanation is garbage.
>

Our negative balance of payments is almost half a trillion dollars each year
now, and most of that is with Japan.  It might be correct to say that "much
of what the US pays Japan Japan pays back for US products", but a more
accurate statement might be "half of what the US pays Japan Japan pays back
for US products".

> >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.
>
> Most did not.
>

Where did it go?

John Knight