New US Economy Policy Message Board

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Strategies & Market Trends : New US Economy Policy

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To: Arthur Tang who wrote (229)	6/15/2000 7:56:00 AM
From: Arthur Tang	Read Replies (1) of 435

Why the new economy microeconomists never talk about savings? Top down economists always make the mistake to equate morale judgement of "save for a rainy day" with bank deposits and equity for investments. Savings strategy is really monetary tightening policy in term of savings removes percentages of gross domestic products in production. The more you save the smaller the economy. Treasury secretary Sumner has no economical training from Harvard University, so he wants the middle class to save. To save is to reduce the economy we enjoy. Average of $1000 deposit in the banks is not savings. Savings is to invest in equity (stocks), treasury bonds, and real estate investments. Loose change in the banks is for personal comforts. Bank deposits are for temporary storage of funds. If the economy expands, bank deposits increase; if monetary policy tightens the bank deposits shrink. Enough said about public officials who are incompetent. Sumner is now in the same group as Greenspan and Volker, not competent to do his job in our government.

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