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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Mark Adams who wrote (90713)	4/6/2001 12:38:21 AM
From: Joan Osland Graffius	Read Replies (2) of 436258

Hi Mark, >> comments welcome Right now we have the 2nd largest economy in the world stagnating, if we are going to have world wide economic growth the rest of the world is going to have to make up for the drag from Japan. We have just had a credit induced asset inflation in this country, as well as mal-investment in the telecommunications industry; and now we are starting to see some of the debt problems surface a.k.a. XRX, LU, Dot-bombs, etc. I think the bears have a good case that deflation will result, but I am suspecting an inflation scare may be on the radar screen for a very short time in the very near future and then a fairly long deflationary period. I think our government will try, heck they are already trying to inflate us out of this mess (look at the printing presses), but I do not think it will work because the consumer will dig in their heals and start saving while Washington starts to increase the national debt trying to get funds in the hands of the consumer. I am betting the same thing will happen here as in Japan, a.k.a. after an asset bubble bursts the population will start saving. We are all human and we will react the same as the Japanese did after their credit induced bubble burst. The Japanese are not stupid people and their leaders are not stupid, like our great friends in Washington and Wall Street would like us to believe, the human plain and simple reacts the same when faced with the similar circumstances. I head some evidence that this is occurring in our neighborhood. Here in Minnesota when spring starts to arrive people come up with projects to upgrade their homes. At my bridge club this week the folks all said they were putting off enhancement projects until the nation gets its financial house in order. These people are all retired and have sufficient capital to get themselves to the grave without any concerns. BWDIK, Joan

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