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Politics : Ask Michael Burke

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To: Mike M2 who wrote (79638)	4/16/2000 9:48:00 PM
From: Bilow	Read Replies (2) of 132070

Hi william e. magner; Re the diff between us and Japan '89, and the savings rate. The Japanese savings rate being so high, they were able to live off their savings when things got tight. That was great for the individuals, but it meant that the gov was unable to start the economy back up. We, on the other hand, have plenty of people that have to spend every dime that comes in the door, so less possibilty of a runaway savings cycle. The Japanese government has been pumping the money supply for years, but it keep disappearing in the mattresses of people who are still able to save huge amounts. The US doesn't have that money sink, so I think we are actually in a better position, in some ways. The real bear is still inflation, I think. No way will the Fed let us pull off a deflation. -- Carl

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