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In article 3638fa9c.3383179@news.mindspring.com
,
oldnasty@mindspring.com wrote:
> manifesto@christianparty.net
wrote:
> >No, wrong. If you will look at the post, it questioned Andrew's perspective
> >and asked him to reconcile it with the non-PPP data. Remember that the
> >non-PPP data concurs with my personal experience.
> ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Here is an update of the previous post. While we have been debating who is having an
economic recession (the US or Japan), the value of Japan's savings on the world market
increased by $6.25 trillion ($25 trillion x 25%), JUST because the value of the yen
increased from 147 to 117.6 in only the last two months. Also, GDP has not declined
by any credible source:
1994 1995 1996 1997 1998
Europa World Yearbook 1998 483 487 505 n.a. n.a.
(GNP trillions yen)
UN Statistical Yearbook 42nd 475 479 505* n.a. n.a.
(GDP trillions yen)
Asiaweek 479 505 542 626
(GDP trillions yen)
*The Statistical Yearbook of the United Nations, Forty Second Issue, pg. 167 reports
Japan's 1995 GDP to be $5,217 billion. The yen was as high as 80 yen to the dollar in
1995, but to get 505 trillion yen they had to use 96.8 yen to the dollar to estimate
Japan's 1995 GDP in dollars.
When Asiaweek estimated GDP per Capita in Japan in March 1998, the value of the yen to the
dollar was 147. Thus, their 626 trillion yen was a GDP of only $4.3 trillion. Now that the
yen to the dollar is 117.6, this 626 trillion yen is actually $5.3 trillion--one trillion
dollars more. If the yen continues on to 80 yen to the dollar before the end of the year,
this 626 trillion yen will actually be $7.8 trillion.
This would be a GDP per Capita twice that of the US.
Add to this the fact that our net worth declined by $7.8 trillion at the same time that
Japan's increased by $22.4 trillion, and this question must be answered:
"Which economy is the one really in trouble, Japan or USA?"
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