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To: GST who wrote (122278)	3/31/2001 4:48:42 PM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 164684

>> You have it backwards <With these dollars they bought stocks> Is that really known that I have it backwards ? If people in the US don't save, then they don't have spare money. Then they can't bid up the price of idiot companies to the sky. Yet the bubble did inflate. So where did the money come from to inflate it ? Possible from foreigners holding US dollars from their trade surplus with the US. My feeling is that a lot of the stupid money came from that source. You're saying "no. US citizens BORROWED money from foreigners, and bought stock with it. I'm saying foreigners bought plenty of stocks themselves. Absent some statistics, it is impossible to say how much was borrowed and how much was direct foreign "investment". ------------ >> Did foreigners lose money? Sure. But they disproportionately put their money into debt obligations. Is that proportion known ? Is that an impression ? or is there a study to provide confidence in that conclusion ?