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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (44137)12/31/2003 8:55:36 PM
From: elmatador  Read Replies (1) of 74559
 
Lets qualify the term savings, Jay. The 'savings' in the Asian context is: Governments export more than they can import. Take the USD they get for their imports, and buy USD denominated paper, thus keeping the USD afloat, in order the US consumer keep coming back.

When one look to all the shopping malls and the luxury goods market in any major Asian city, I wonder how they manage to set money aside to save.
With the economic activity I see from my window, housing is going up fast, hence this populations are buying them. Which means they are not saving.

Now with those inflated economies in Europe, plus their egalitarian instincts and the rapacious governments, any European managing to save any money can be considered a hero!
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