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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (798)	12/30/1999 8:24:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 42523

good grief...he's living back in 1996

To: pater tenebrarum who wrote (798)	12/30/1999 9:46:00 AM
From: KyrosL	Read Replies (1) \| Respond to of 42523

he warned about complacency, citing overinvestment in capacity, etc. I think this is where the problem is rather than inflation -- on which this thread seems to be fixated. We got a peek of what deflation could be like last year, and it was not pretty. The underlying fundamentals for deflation are well in place. Deflationary forces are powerful. They are the reason why inflation in the US has barely budged in spite of the longest economic expansion in history. When the investment boom in information infrastructure starts to wane, deflationary forces are going to prevail. There is a precedent for this: Japan during the last 10 years. As for Europe, its average unemployment rate is still above 10%.