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To: polarisnh who wrote (31609)	1/22/1998 1:41:00 PM
From: Daniel W. Koehler	Respond to of 61433

Steve Point well taken. OPEC caused commodity prices to spiral upward and exacerbated the underlying inflation caused by accomodative Fed policy to pay for federal deficits caused by both the Vietnam war and dramatic expansion of domestic social engineering programs in the 60's. Watergate was just the straw that broke the camel's back. Now however, we have deflation underlying the economy and a balanced budget. However, the global economy is much more a factor than in 1970s. Zippergate shouldn't affect the economy the way that Watergate did since we have a inflation hawk at the Fed. Just a random drive by thought... Daniel