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Pastimes : Ask Mohan about the Market

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To: Cynic 2005 who wrote (16169)	8/13/1998 10:31:00 AM
From: tekgk	Read Replies (3) of 18056

> 401k savings figures for Americans is not insignificant. I should be more careful with my wording. Let me be more precise. It was not insignificant last year when net total domestic savings was 167 billion or 3.8%. Last quarter it was 1.4% on an annual basis - less than half the pace of last year. Compare this to the 400 or so billion from the foreigners. It's still real money but, small in comparison, as such, I do not see it as the primary driving force in the market. I do agree that if it actually turns into an outflow then will matter - it's just that I hope that you are wrong. I also hope that you are wrong about the correction starting earlier than I think - It will be very painful for me if you are correct. I also hope that some miracle occurs to keep the foreigners here over the next few years, I don't want my kids to have to live with the aftermath either.

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