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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Neocon who wrote (174983)	8/27/2001 5:37:31 PM
From: gerard mangiardi	Read Replies (1) \| Respond to of 769670

Prices didn't go up because of 3 things IMO. One is that IT finally started making a difference in productivity. The other is that energy prices dropped. using energy as an example though prices didn't drop so much because of increases in productive capacity but due to latent overcapacity coupled with gradual adoption of energy saving technology. Energy prices rose more recently because the opec cartel got their act together. This is one area where Clinton couldn't take much credit for the drop in prices or too much blame for the more recent run up. the final reason is that the liberalization of global trade increased competition which kept downward pressure on prices.