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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (3833)	5/1/2001 11:34:01 PM
From: Original Mad Dog	Read Replies (1) \| Respond to of 33421

John, It seems to me that most of our expansions have coincided with periods of falling or stable energy prices, and many of our nastier recessions have occurred during periods of increasing energy prices. With oil, gasoline, natural gas, and electricity markets in various states of turmoil and price increases, that is the equivalent of a huge consumption tax. It would appear difficult for any significant expansion to occur (and consequently any sustained runup in equity prices) against this backdrop. Regards, OMD