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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (4144)	4/12/2004 12:21:30 PM
From: yard_man	Respond to of 116555

>>Most economists spend their careers analyzing the economy. Robert Parry, president and chief executive of the Federal Reserve Bank of San Francisco, helps run it. << just this opening strikes me as sick -- since when does the Fed run the economy -- if even close to true all they can do is ruin it ... The very idea of central planning a few years ago was anathema -- now it is spouted matter-of-fact in article after article for mass consumption ...

To: mishedlo who wrote (4144)	4/12/2004 12:28:16 PM
From: yard_man	Respond to of 116555

powder puff interveiwer -- where's the follow-up on this one??: >>Q. Wasn't the recent recession unusual in that consumers kept spending on homes, motor vehicles and other durable goods? A: Recessions have their own unique aspects. Two characteristics (of the last recession) were that it was relatively short, and it was pretty shallow. It wasn't centered in the consumer area. Very often what we've seen in the past is that consumer spending weakens significantly. That leads eventually to a reduction in business spending. That isn't the way it happened this time. What we saw was that business spending for inventory, business spending for investment was quite weak. Consumer spending was holding up relatively well. <<