Richardson_D wrote: > Yesterday's plunge in energy prices underscores a critical element in > the American economy's surprising resiliency of late: Falling oil costs > are aiding growth, much the way the 1970s oil shocks strangled it. The > biggest boon is lower inflation. ... (Wall Street Journal, page A2). When you think about all the factors that should tend to make the U.S. economy prosper [pliant labor, cheap raw materials, low inflation ....], the question arises: how bad will it be when these props are pulled out? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
