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Hi Tim; I've got the breakdown of private sector balances, from Scott Fullwiler:


[cid:d3e0cd44-7575-46b8-be76-23643132db26]


You might be referring to more recent data--this is only thru Q2.

The NYFed piece Gregg sent is hilarious. I presume it is unintentional comedy. The plain facts stare them in the face but they insist on going with loanable funds.

Note they have all the evidence and argument they need to draw the conclusion that saving is merely a residual (indeed, all their measures derive it from the residual) but still want to assign to it causal priority.

Can someone send them a bit of Fagg Foster?

L. Randall Wray
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________________________________
From: AFEEMAIL Discussion List <[log in to unmask]> on behalf of Greg Hannsgen <[log in to unmask]>
Sent: Monday, December 3, 2018 3:50 PM
To: [log in to unmask]
Subject: Re: [AFEEMAIL] Sectoral balance

Hi Tim,
Did you see this piece from the New  York Fed? It does contain balance series:
https://urldefense.proofpoint.com/v2/url?u=https-3A__libertystreeteconomics.newyorkfed.org_2018_11_is-2Dthe-2Dunited-2Dstates-2Drelying-2Don-2Dforeign-2Dinvestors-2Dto-2Dfund-2Dits-2Dlarger-2Dbudget-2Ddeficit.html&d=DwIFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jP24s4wbPv4JcsCLepH0urLMa2il8BreSNVTNyiD4Fg&s=mo-U1c_E6taOrjZKOhpC0mgrAq2MjppKPv5OQeOz-ic&e=<https://urldefense.proofpoint.com/v2/url?u=https-3A__libertystreeteconomics.newyorkfed.org_2018_11_is-2Dthe-2Dunited-2Dstates-2Drelying-2Don-2Dforeign-2Dinvestors-2Dto-2Dfund-2Dits-2Dlarger-2Dbudget-2Ddeficit.html&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=mUT7_AjWAVpQsSriQmjVMZfz9zp6CsUFJB0mqi2mfRc&s=UIkhvd85LQcM96S9r4TqGYJAZB4MyPOVVE6QDIl_smk&e=>
Greg

Greg Hannsgen, Ph.D.
Greg Hannsgen's Economics Blog
Research Associate, Levy Economics Institute of Bard College

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https://urldefense.proofpoint.com/v2/url?u=https-3A__greghannsgen.org_greg-2Dhannsgens-2Deconomics-2Dblog_&d=DwIFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jP24s4wbPv4JcsCLepH0urLMa2il8BreSNVTNyiD4Fg&s=l2IEE1zgO44DoPsMD9YW-z5WFrmJ_KTkVQghmS6bcHs&e=<https://urldefense.proofpoint.com/v2/url?u=https-3A__greghannsgen.org_greg-2Dhannsgens-2Deconomics-2Dblog_&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=mUT7_AjWAVpQsSriQmjVMZfz9zp6CsUFJB0mqi2mfRc&s=2YyUFqRXOh7XENBpWjeq06h09F_pbgGXLYrN8q8eJ3I&e=>

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On Tue, Nov 20, 2018, at 5:48 AM, Wunder, Tim wrote:

Anyone on here seen a sectoral balance lately? Household savings is declining yet gov deficits are increasing. Not sure what trade balances are doing or how business savings is going. I am just curious where the money is going and was hoping someone had done the balance to save me the trouble of looking it up.




Timothy A Wunder

Clinical Associate Professor of Economics

Graduate Advisor

Department of Economics

817-272-3257