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:
>
> >> Table 1173 shows you are wrong (as usual).  $5.8 trillion.  If you
> >> want to count pension funds and mutual funds in as indirect ownership,
> >> you can get as high as $10.5 trillion, but households don't own all of
> >> the mutual funds (Table 1191).
> >
> >Table 1173 also shows that stock market capitalization dropped almost a
> >third between 1999 and 2001.
>
> Actually not.  It just says that households had 1/3 less asset value
> in equities.  That could be from selling stocks as much as from lost
> value.
>
> Remainder of baloney not worth responding to.
>
> lojbab

Yeah, sure.  Americans sold the stock, bought $100 dollar cigars, and lit
them with burning $1,000 dollar bills?

If you sell $4.4 trillion worth of stock, you have money left over.  If you
have money left over, you put it somewhere.  Where did they put it?  Life
insurance?  No, life insurance assets decreased too, by 3%.  Other insurance
companies?  No, down 12%.  Private pension funds?  No, pension funds plunged
22%.  Mutual funds?  No, down 19%.  US government securities?  No, down 73%.
Bonds?  No, down a whopping 25%.  Did they use it to pay off their home
loans?  No, mortgage debt up 19%.  Credit cards?  No, consumer credit up
17%.

Are you even looking at these tables?  If you, how did you miss all this?
Although there might be some overlap, let's add it all up just in the
unlikely event you finally realize how serious it is:

-$4,400 billion = equities
- 157 billion = bonds
- 131 billion = mutual funds
- 357 billion = pension fund reserves
-218 billion = bank personal trusts
-392 billion = US government securities
+1,184 billion = increase in mortgage debt
+242 billion = increase in credit card debt
+ 15 billion = commerical mortgages
+262 billion = increase in nonfarm noncorporate business debt
+134 billion = increase in state and local government debt
+162 billion = increase in federal spending
+280 billion = increase in state and local government spending

$7,934 billion = loss in equity between 1999 and 2001

And most of this is before the stock market crash which wiped out another
$7.2 trillion.

And before mortgage debt increased another $841 billion to $6,271 billion.

And before consumer credit increased another $200 billion to almost $2
trillion.

John Knight