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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (112969)	7/17/2001 7:36:11 AM
From: Tom Smith	Respond to of 436258

posted on Longwaves...for debtoholics and the ones that love them.... levy.org "This paper has argued that growing imbalances in the structure of U.S. demand have led to a situation where a recession is more or less unavoidable in the very short term. Looking to the medium-term future, there will have to be a very large change in the stance and structure of fiscal and trade policy if a sustained expansion is to be reestablished. The management of monetary policy via the manipulation of short-term interest rates, however sensitively and skillfully this may be carried out, is totally inadequate as a means of dealing with the serious structural problems that threaten the future prosperity both of the United States and the rest of the world." Got impotent FED? <g>