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Strategies & Market Trends : Asia Forum

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To: Joseph Beltran who wrote (5835)	8/24/1998 2:05:00 PM
From: Lee	Read Replies (1) of 9980

Joseph, While I certainly agree there is a grain of truth in your comments, I think we are beginning to feed off each other's doom and gloom. We are heading into the Christmas selling season with one of the lowest unemployment rates in 15 years. Many firms have pent-up labor demands. Wages have been rising faster than prices for quite some time now. Last I looked; there still was demand for high tech goods from overseas. It is still rather difficult to find a contractor to do work on my house. US home prices on aggregate are increasing. US consumers have lots of discretionary income at the moment. It should make for a green Christmas. A year from now maybe deflation will have won the battle. At the moment there is strong pressure on both sides of the equation. If the lay-offs come in big numbers the pressures on wages might subside. Then again, if the dollar weakens the deflationary pressures might subside. Regards, Lee

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