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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: yard_man who wrote (7899)2/12/2004 3:54:39 PM
From: russwinter  Read Replies (1) of 110194
 
No I just disagree with the concept of "excess capacity" and especially "output gap". And I really disagree with it's use as an indicator of monetary policy, big mistake. It's too general, and picks up too much junk in the economy and acts as if it's just waiting to get productive again. There are a lot of formerly productive assets that aren't productive now for a reason: used up, old, antiquated, in the wrong location, and yes uncompetitive. It's definitely not always about "pricing power". I think you could go through all 97 pages of the plant closings and make an intelligent judgement of each though. Might be a great master's thesis for someone? Sorry, too old.
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