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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	4/3/2001 11:31:22 AM
From: Softechie	of 37746

10:53 (Dow Jones) Economists at The Levy Institute of Bard College, who were early in predicting the extent of the current economic downturn, contend that many still underestimate how bad it could get. David and Jay Levy contend the economy is now in what they call "contained depression," partly brought on by market excess in the mid- to late-90s and global overcapacity. The economists say many people still fail to see that four current phenomena - declining economic activity, the negative wealth effect of slumping equity markets, deteriorating debt and credit conditions, and crumbling international financial stability - are mutually reinforcing. "A setback on one front leads to new troubles on the others," they say. (RS)

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