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Gold/Mining/Energy : Gold Price Monitor
GDXJ 99.85+6.2%Nov 24 4:00 PM EST
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To: Bobby Yellin who wrote (7142)2/2/1998 7:33:00 PM
From: PaulM  Read Replies (1) of 116764
 
Bobby, an example of much ado about nothing. The link you posted pointed to the slight increase in saving in December (probably becasue of the stock market getting shaky). But overall 1997 had lowest savings rate in 58 years.

My take: this is a classic business cycle boom. In earlier decades, this level spending would have implied an even greater GNP. Evidence that the govt is getting less bang for its stimulatory buck. And with each new down turn, it will become harder and harder to prevent the "recession" from becoming something more.
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