At present, every housewife in Japan instead keeps a few million yen in physical notes stashed in every hollow object in the house...
I read financial things only casually, thanks for the primer. But why don’t you hear a lot about that $19 trillion with as much doom and gloom speculation about credit woes?
” At present, every housewife in Japan instead keeps a few million yen in physical notes stashed in every hollow object in the house...”
Hehe...A bit of hyperbole , surely ...You would be surprised at just how many folks , especially in rural areas , are existing thanks to loans from banks and elsewhere . No cash under the mattresses . My wife’s uncle - a local businessman - committed suicide on Christmas eve because he was so in debt to banks and family members ...Wifey tells me that a lot of people are deep in debt these days . The gap between the rich and the poor inexorably grows ...
“If private Japanese investors, e.g. through mutual funds, decided to buy $1 trillion in US stock at the present low level of the dollar, they could have most of the US financial sector.”
Golly, they surely must be idiots not to do so if this is accurate.