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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: t2 who wrote (5520)1/19/2004 9:02:03 PM
From: philv  Read Replies (1) of 110194
 
I think the Japanese government is spending the enormous savings on behalf of their citizens, who haven't caught on of course. The Japanese have a very high personal savings, perhaps the highest in the world, all the while their government is running a large deficit. Try as they may, the government could not get their people to borrow and spend, even at zero interest rates. So.....they are doing the spending on behalf of the people, by buying US treasuries, losing money in the effort, but achieving a devalued currency.

The average Japanese is seeing his currency devalue thanks to their government.

That's what's wrong, and that's what it costs.
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