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To: steinman who wrote (10634)	5/29/2000 11:40:00 PM
From: Tunica Albuginea	Respond to of 24042

OT Steinman: 1973 recession was caused by inflation caused by rising oil prices from oil-cartel; " " oil-pump lines ". Remember?Inflation pumped up by Guv. Printing money and raising taxes to pay for Vietnam experiment. Coupled with rising Guv. taxes ( Dems ); it killed economic growth; culminated in 1978 in inflation+recession= " stagflation "; also known as the Jimmy Carter " Misery Index "= 25 Infation 15% + Unemployment 10% = Misery Index 25. Resulted in flat GDP.. None of that is occurring now. There are rising prices but no inflation. Certainly no unemployment. Strong GDP. There has never been a recession with strong GDPhttp://www.emgmkts.com/research/cibcr/G7/98july/980721.htm These are totally different times. The current economic boom is caused by a new SHRINKING of Government putting money in people's pockets to invest and grow the Economy . Last time this occurred was in 1905 when Income tax was 6% resulting in supercharged Economy. The low employment will continue as more sedentary people ( retirees over 65 ) are forced to go back to work to pay for all the free health care they are getting now. TA Message #10634 from steinman at May 29, 2000 10:34 AM ET Nice title, but lacking in credibility. Saying the Vietnam War was at its peak in 1973-74 is nonsense. Christmas bombing in 1972 marked it's last spasm for the US, and Paris accords signed in January 1973. A big lull until the final collapse in 1975. ws