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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Joe S Pack who wrote (34934)	6/13/2003 12:14:24 AM
From: RealMuLan	Read Replies (2) \| Respond to of 74559

Thanks, good article. I just could not help laughing when I read this: "The Personal Savings rate comes right out of "Alice and Wonderland." First, we have the mythical $300 billion in "non-charged bank fees," and the non-cash $90 billion in the rent home owners don't charge themselves, pushing up personal savings. Then the government estimates the value on new home construction, less housing depreciation, which adds about $300 billion a year. Just taking out the imputations on housing for new construction less depreciation, swings the personal savings number from over a plus $300 billion to a minus $100 billion. If you take out the $300 billion in "non-charged bank fees," personal savings is running a negative $400 billion a year." Talk about Creative Accounting. The Federal gov. sure takes the cake on this<g>