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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (6949)8/13/2001 1:02:35 AM
From: elmatador   of 74559
 
"This paper has argued that growing imbalances in the structure of U.S. demand have led to a situation where a recession is more or less unavoidable in the very short term. Looking to the medium-term future, there will have to be a very large change in the stance and structure of fiscal and trade policy if a sustained expansion is to be reestablished. The management of monetary policy via the manipulation of short-term interest rates, however sensitively and skillfully this may be carried out, is totally inadequate as a means of dealing with the serious structural problems that threaten the future prosperity both of the United States and the rest of the world."

levy.org

Jay, we need an abacadabra and rather sooner than later!

Cheers

Elmat
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