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To: Bill Harmond who wrote (146178)8/26/2002 9:51:02 AM
From: GST  Read Replies (1) | Respond to of 164685
 
"you have your head in the wrong place if you think that energy had more to do with this recession than the monetary policy" Bill, you really don't get it. The price of money and the price of energy, taken together, tend to be strongly correlated with the business cycle -- between the two, energy is more strongly correlated. It is really that simple Bill. Interest rates have come down -- energy prices have not. And we are stuck in the doldrums.