brain sizes: Einstein's and women's
lojbab at lojban.org
Fri Sep 27 21:35:37 EST 2002
"John Knight" <jwknight at polbox.com> wrote:
>> >5) Deposited so much money in Sumitomo Bank that it grew IN ONE YEAR by
>> >almost as much as the entire asset value of Bank of America
>> Rather obsolete numbers, if they were ever correct.
>> gives a 6/92 asset value for Mizuho of 87 trillion yen, which is $719
>> billion. Sumitomo's assets convert to $521 billion. So Mizuho LOST
>> nearly $600 billion in assets in a few months if we were to believe
>> your numbers. The combination of postal savings and postal insurance
>> accounts have 360 trillion yen, which is just under US $3 trillion.
"My" figures are straight from American Banker, which is a more
credible source than this Americanized
"American Banker" is not "Americanized" and a Singapore press agency
report quoting a Japanese news daily IS?
>[read: dumbed down] "Japanese news" source. Your "news" doesn't even
> begin to explain WHY such "news" stories have been dominating the
> landscape for the last half a century, but are always, always
> followed up by the "good news" that their projections weren't so bad,
> after all.
That wasn't a "projection", those were the reported numbers from the
>You will see from American Banker that the OFFICIAL increase in assets
> at Sumitomo Bank in just ONE year (the year OUR "news" has been
> proclaiming from the rooftops was an "Asian Economic Crisis") was a
> whopping $409 BILLION. The doom and gloom "news stories" that
> preceded this OFFICIAL publication of their bank assets were exactly
> the same as your "news" reference.
American Banker IS a "news publication", an American one. It also
happens to require a subscription in order to check your cite and
verify the numbers, not that I much care.
>This *increase* in assets was almost as big as the TOTAL assets in
> Bank of America (which LOST $20 billion that year). Mizuho is almost
> a quarter of a TRILLION dollars bigger than our biggest bank,
> Citigroup (which is a conglomeration of other banks).
Only if someone believes your numbers. Which no one sane will do.
>The year before that, we heard the same gloom and doom stories about
> the Japanese economy, but the BANKS went wild and gave this LIE away.
The news report I posted seems to indicate that their balance sheets
were loaded with bad loans:
>The Mainichi Shimbun said the need to cut assets is due to the fall in
> their shareholders' equity after writing off massive amounts of bad
> loans last year.
>If the situation remains unchanged, the banks are concerned that their
> capital adequacy ratios may fall.
>But that's the bad news. The good news is that the Japanese don't
> even keep their personal savings in Japanese banks. This is just the
> overflow from Corporate Japan. The REAL assets are in their
> ultra-secretive, semi-private Postal Savings Accounts which contain
> at least $32 trillion, and possibly more than $40 trillion.
They're not so ultra secretive, and the amounts aren't nearly so high.
As I reported yesterday, the combination of postal savings and postal
insurance accounts have 360 trillion yen, which is just under US $3
trillion. A lot of money, but your numbers are a joke (as usual).
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