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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (44284)	7/16/2003 5:57:19 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 57110

the biggest problem i see for the stagflation scenario is rising prices. if we actually do get into a prolonged period of structural unemployment even as we have more and more people entering into retirement, one is hard-pressed to find the $$$ available to chase goods allowing for prices to rise. but there are some areas of the economy where prices have risen....but i think we can agree the pricing power is only in the category of non discretionary spending. i have been of the opinion that even without an uptick in rates, that mortgage refi's would reach a point of diminishing return, once that well has run dry (in the middle of a "jobless recovery") it's hard to envision what "stimulus" will lead to economic growth.