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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (20402)12/18/2003 6:46:36 PM
From: michael97123  Read Replies (2) of 793682
 
LB,
Ed Hyman(noted economist) was on cnbc today and explained it even better.
He said that chinese demand for raw materials are producing the inflation scare from rising raw material prices. But what china does is take these raw materials and with $1/hr labor create products that either keep keep prices steady or lower them in some cases particulary in the US where free trade still rules. Thus no inflation. Its a balancing act Hyman says but this appears what 2004 will be all about. So little or no inflation, steady growth, robust stock market, reducing size of deficits, more tax relief and continued low interest rates. Hyman said this is the Fed plan too and Alan Greenspan will not misunderstand these developments. Of course potential Dean Secretary of Commerce Paul Krugman will screw this all up. <ggg> mike
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