Re: "Stock Market and the Real Economy", a reply to Clifford

["Edward C. Wood" <ewood@xxxxxxxxxxxxx>]

On Tue, 14 Mar 2000 09:35:51 -0500, you wrote:

<deletion>

>	[Clifford Poirot]
>	I agree, at least in part, about the structural change in equities.
>Much of this seems to be driven by the flow of money into 401K's and pension
>funds. Curiously, this is not counted as savings in the U.S. statistics,

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
>even though it is clearly deferred compensation, and thus money not spent on
>consumer goods. ...

The underscored phrase is astonishing, if true.  Can you cite a
source?

Regards, Ed