Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (12386)	1/1/2002 3:06:39 PM
From: Don Lloyd	Read Replies (2) of 74559

CB - ...GDP will be lower, but manufacturers, producers and consumers will be better off. Unemployment will increase,... The totality of the economy, ultimately driven by the subjective goals of consumers, is not subject to measurement, so this is often the normal course of events unless a persistent inflation of the money and credit supply is underway to falsify the numbers. The unemployment is primarily the result of the structural rigidity of wages, including the legal minimum wage, that can only be adjusted downward by an actual layoff cycle. Regards, Don

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