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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Lucretius who wrote (54856)8/4/1999 10:22:00 PM
From: pater tenebrarum  Read Replies (3) of 86076
 
here ya go:

U.S. economy will continue to grow -- Summers
LONDON, Aug 4 (Reuters) - The U.S. economy is not a bubble about to burst and will continue on a growth path, Treasury Secretary Lawrence Summers said on Wednesday.
In an interview with BBC television's Newsnight programme, Summers said the economy bore no resemblance to 1990 when boom went to bust.
Instead of massive budget deficits, the United States had now moved to surplus, Summers said.
It was looking at buying back debt and the strategy of concentrating on improving productivity and opening markets had changed the landscape of the economy.
Summers stressed that he was not fazed by the sharp rise in the U.S. stock market.
''Our strategy has been a strategy of not focusing on what happens in financial markets, but instead working one step at a time to build strength of the real economy,'' he said.
He said he was confident the United States, which has become known as the Goldilocks economy because of a combination of high growth and low inflation, would continue to grow.
''There are always going to be some movements up and down but I feel confident that momentum should be maintained going forward,'' he said.
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