Winstar Comm. (WCII) Message Board

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Technology Stocks : Winstar Comm. (WCII)

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To: wrm1 who wrote (8439)	10/5/1998 10:42:00 AM
From: dougjn	Read Replies (1) of 12468

Hey wrm1, read history prior to WWII. Many of those recessions were deflation initiated. Including more than one real doozy. Recessions are caused by sharp contractions in available credit. Since WWII we have had exclusively inflation --> Fed tightening & draining of liquidity --> recession. Recessions can also occur when excess capacity --> reduced price levels in key areas--> defaults and other destruction of capital--> reduced economic activity. Japan since 1990 (because extreme bubble and overcapacity and inslovent loans); the US for fall 1929 through 1939; the US in a number of prior recessions. Doug

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