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Gold/Mining/Energy : GOLD-XAU
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To: Don Green who wrote (1006)1/3/1998 4:27:00 PM
From: Abner Hosmer  Read Replies (1) of 1756
 
Don - I may be incorrect in this, but my understanding is that the savings in the Postal system were used to fund infrastructure projects in an abortive effort to stimulate the Japanese economy, and that the system is now deeply indebted itself. In other words, the Postal systems assets now consist of debt obligations on projects that are not paying for themselves. There was an article in the WSJ about a year ago that that outlined the massive amounts of money that had been squandered on transportation systems, etc. Can anyone shed some light on this?

Tom
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