Broken model

[Carl Remick]

This puts me over-quota once again, but perhaps this particular post could 
be charged to the account of Brad DeLong, who for reasons of modesty (or 
perhaps the Calif. power shortage) has not drawn the list's attention to the 
following, which appears in today's Wall Street Journal in a front-page 
piece, "American Economy Offers a Model Others Both Envy and Fear":

"...will the end of the bull market spell the end of America's economic 
miracle?  'Even though an end to the period of irrational stock-market 
exuberance ... will not -- or need not -- greatly disturb the fundamentals 
of American production and employment, it will bring an end to the eagerness 
of foreign politicians and executives in other countries to learn from 
America,' predicts Brad DeLong, an economic historian at University of 
California at Berkeley."


>From your lips to God's ear, Brad.

Carl
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