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Politics : Stockman Scott's Political Debate Porch
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To: Sully- who wrote (21017)6/26/2003 12:35:32 PM
From: Jim Willie CB  Read Replies (1) of 89467
 
my takeaway from the Fed comments, no clue on inflation

"In contrast, the probability, though minor,
of an unwelcome substantial fall in inflation exceeds that of a
pickup in inflation from its already low level. On balance, the
Committee believes that the latter concern is likely to
predominate for the foreseeable future."

so the Secy from the non-cabinet Dept of Inflation exhibits zero perception on what inflation is, how inflation occurs, nor the effects on his inflationary policies since 1987

his monetary inflation has produced assets bubble bust
also extreme indebtedness
also extreme overcapacity
and now liquidation
I regard the entire USEconomy as undergoing slowmotion liquidity now
let's not mince words
earnings targets are being met, with declining sales, thru job cuts, reduced capital spending, and idle plant

/ jim
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