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Politics : Ask Michael Burke
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To: upanddown who wrote (34068)10/16/1998 11:47:00 PM
From: Knighty Tin  Read Replies (3) of 132070
 
John, I am long oil, I expect $18 and I expect a recession. The point is that $18 would raise costs tremendously at a time when there is no pricing power for mfrs. That is what I call stagflation and is what I consider the most likely and probably the best case. Much better than worldwide deflaltionary depressions and failing financial systems.

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