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Pastimes : Home on the range where the buffalo roam
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To: mishedlo who wrote (10944)2/28/2001 1:37:59 AM
From: pbull  Read Replies (1) of 13572
 
With the U.S. in recession (according to Jack Welch of GE, who knows one when he sees one), that, by definition, takes most of the rest of the world with it.
Why? The U.S. is the largest market for goods and the importer of last resort. That's one reason why our trade deficit is so large.
Depression? Depends. How about 3 percent interest rates and financial markets that continue to sag? Yep, could happen. Is that a depression? Don't know. Depends on the definition.
There's certainly more than a whiff of deflation out there, so we'll see how Greenspan & Co. address it.
After all, they got us into this mess.

PB
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