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To: Jorj X Mckie who wrote (44260)	7/16/2003 4:51:52 PM
From: zonder	Read Replies (1) \| Respond to of 57110

I am also sceptic about the "economic recovery". However, stagflation is a specific and very rare phenomenon. I think I mentioned it here the other day - the last time it happened, that was due to a combination of a supply-side shock and a demographic anomaly (baby boomers, large proportion of their women going into labour etc). So, we will most probably not see stagflation even if the economy drags its feet longer. Unemployed people simply don't spend money....at least not for too long. Agreed. And in that case, prices just don't rise. I am not ruling out the possibility of stagflation, but just saying that I find it remote. I would be interested to hear more about your reasoning for expecting stagflation. I just don't think "no economic recovery yet" is it.