don,
Thanks. Three things stood out as I read the article you posted:
"The ministry decided to set up the organization to oversee management of 126 trillion yen of public pension monies."
Can you believe that number. If I'm not mistaken, 126 trillion yen converts to $900 billion US. That's a lot of public pension money.
"Some members of the ruling Liberal Democratic Party had urged using public pension funds to prop up stock prices ahead of corporate
book-closings at the end of March.
Now from the statement above, it sounds like there is no public pension fund money in their equities markets currently.
"The Health Ministry intends to submit to the Diet next year a bill to put the study group's proposals into effect in fiscal 2000."
Does that mean there currently is public pension money already propping up their equities markets? That Business Week article may have referenced this, but I don't remember. Or, is the Health Ministry simply saying it is okay to invest the money, but let's follow the new rules starting in 2000?
Thanks,
MikeM(From Florida)
PS Last year when it was proposed that Social Security money be invested in the US equities markets, I was thinking that may be a good idea. But now as I see our markets getting over inflated, month after month, I'm not so sure anymore. If this blows up in Japan's face, this is a lesson the US can definitely learn from. |
