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To: Sarmad Y. Hermiz who wrote (122293)	3/31/2001 6:36:27 PM
From: GST	Read Replies (2) \| Respond to of 164684

Sarmad: "You're saying "no. US citizens BORROWED money from foreigners, and bought stock with it. I'm saying foreigners bought plenty of stocks themselves" No question, foreigners bought stocks -- more from Europe. Asians are big-time savers -- roughly 25% of their income goes into savings -- and yes, it finds its way over here. I don't have time to do a personalized research report for you today -- but it is accurate to say that we import savings and spend our money or put it in stocks instead of taking care of our own savings needs. One measure of this is in the current account deficit component relating to interest payments on debt.