homogeneity - was Re: Comparing...

Dennis R Redmond dredmond at OREGON.UOREGON.EDU
Thu Jun 10 17:50:58 PDT 1999


On Thu, 10 Jun 1999, Doug Henwood wrote:


> But it's [Japan's postal assets] not being spent on real world
> technology.

But it is being spent on real world infrastructure, education, construction projects, etc. The postal savings system was one of the key elements of Japan's postwar economic miracle, the Ministry of Finance dipped into those assets to finance all manner of investment; more recently, these funds were used as collateral for the bank bailout. Of course, the Government there hasn't been too keen to publicize the fact, relying on smoke-and-mirrors budgets to hide the money trail, but that's the gist of it.

-- Dennis



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