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

To: Dennis O'Bell who wrote (89508)	2/13/2001 10:28:19 PM
From: Knighty Tin	Respond to of 132070

Dennis, I just got my electric bill and it has not gone up a bit. I got a higher one last month, but that was because I had turned on my heater for a few days. <g> The big problem I see is that this crunch is taking place in the part of California that is the New Paradigm. Since Clinton stacked the economic stats to make this technology 8% of the economy look like a gorilla, I wonder if the slowdown in the internuts combined with higher costs and production slowdowns will hit the #s.

To: Dennis O'Bell who wrote (89508)	2/13/2001 11:28:54 PM
From: Joan Osland Graffius	Respond to of 132070

Dennis, >>but is the energy situation really similar today to 1974? I think it is worse here in Minnesota than the OPEC 1974 problem. During the 1974 period we only dealt with gas increases which caused inflation throughout the transportation system. We are now dealing with the same increases in gas and the increase cost of delivering goods, but we are dealing with over 100% increases in the cost of Natural Gas to heat our buildings and an increase in cost of electricity. The increase in Natural Gas and electricity adds another level of inflation that we did not have in the 1970's. The California problem is spilling over here in Minnesota because our Natural Gas supplier is not collecting for the natural gas they are delivering to California and we will pick up the tab on our bills. I have not been shopping lately, except for groceries and I have seen a 30% increase in most of the the fresh fruits, vegetables, dairy products and meat. The question in my mind is how much capital do people have to meet the increases in costs of basic needs and pay their credit obligations. I suspect the shut down in spending is because there are no funds. Greenspan may be able to get some money in to the hands of home owners with the refinancing, but will it be a sufficient amount to get back in the malls spending. It is going to be interesting. Joan