Max Sawicky strongly reprimands me
> MP:
> Am I wrong to believe that the various warning signs are starting to
> cluster closer and closer together?
> >>>>>>>
>
> [mbs] yes.
>
> >>>>>>>>>>
> Worries about energy prices.
>
> [mbs] Prices that are still low by historic standards?
> Seems like we're confusing consumer griping with
> world-historic conjunctures.
Not really, I hope. Low energy prices may have been an important component
of the boom.
>
> >>>>>>>>>
> A lack of confidence about the future world order -- suggested by the
> way the World Bank is pretending to listen.
> >>>>>>>>
>
> [mbs] we could say the lack of a crisis is reflected in the fact that
> activists are pretending to talk to the WB.
Maybe you are right about this example.
> >>>>>>>>
> More uncertainty regarding stock market -- and we haven't yet hit Oct.,
> the traditional month for crashes or corrections.
> >>>>>>>>>>>
>
> [mbs] I thought October was the traditional month for predicting
> crashes that don't happen. When was there no uncertainty about
> the stock market?
I wasn't predicting.
>
>
> >>>>>>>>>>
> The Fed seemingly behaving as if it needs to prop up the economy -- even
> though they have not yet cut interest rates, supposedly they're pumping
> up the money supply.
>
> Warnings about bad quality loans. Worries about credit in general.
>
> The ongoing increases in the balance of payments deficit.
> >>>>>>>>
>
> [mbs] old.
The conditions are old, but I am seeing more concerns cropping up.
>
> I suppose if others predict crisis every six months or so, and I never
> predict one, eventually they'll be right and I'll be wrong. What's the
> opposite of a broken clock that's right once a day? Maybe an electric
> clock that keeps the right time until the lights go out.
>
I wasn't predicting, just asking.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
