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Strategies & Market Trends : Zeev's Turnips
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To: Zeev Hed who wrote (593)10/14/2001 4:11:47 PM
From: Joan Osland Graffius  Read Replies (2) of 644
 
Zeve,

Hi, how are you doing?

Re: Savings. We seem to have all kinds of different definitions of savings, investments, assets, etc. I look at savings as a known amount of safe capital that is available immediately to an individual or a financial institution (bank) to loan at any instant in time.

IMO, investments are pieces of paper that represent some asset that has not been redeemed by an individual or institution, therefore the capital value of the asset is not known. i.e. the capital has not been turned into savings. Some of these investments generate a flow of capital either internally or generate income to the holders of the paper.

I look at a home as neither an investment or savings. We all need a place to live until we die. This asset does not generate income. In fact if you look at owning a home for a life time, i.e. you may be surprised what the cost of home ownership is. Maintenance and taxes are not cheap, besides we have people that are paying twice the price of the house at purchase because of the cost of money. Not exactly a good investment, just a quality of life asset.

If you accept my definition of savings I believe we have a large number of individuals and corporations as well as our government in the US that have no savings and their safety nets are fragile.

Joan
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