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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (89472)	2/12/2001 10:34:46 PM
From: Knighty Tin	Read Replies (5) \| Respond to of 132070

ild, Well, we haven't had a recession yet, which is two negative quarters of GDP growth. So far, we haven't had one of those critters. If this does turn into a recession, it should look very similar to 1974, when energy prices took the country over the edge. The govt. tried all kinds of crap, but, basically their efforts, cutting rates, cutting taxes, raising rates, raising taxes, messing with money supply, inflating the dollar, etc., were just entertainment for the public until the cycle righted itself. They probably extended the recession with their actions, but it would have happened even without them. We got to learn new terms like stagflation and malaise. And the dollar became an intl. laughing stock after being the darling of the world during the 60s. This time around resembles that a lot.