The bourgoisie worries about the Japanization of the US econo my

[Carl Remick]

>	Doug Henwood wrote:
>
> > Like I said before, though, one big difference is that the BoJ kept
> > raising rates for over a year after the Japanese stock market peaked
> > on the last trading day of 1989; the Fed has been easing pretty
> > aggressively.
>.
>
>We'll see if that continues to be the case in the event the dollar takes a
>major hit.
>
>Seth

Both the dollar and U.S. consumer confidence seem to be following a 
exhilarating Wile E. Coyote trajectory -- running far beyond the cliff's 
edge, oblivious to the abyss below.  Far be it from me to indulge in 
"disaster sniffing" (a neat turn of phrase I discovered on PEN-L, where I 
have been lurking on occasion recently due to *unprecedentedly* slow work 
flow at my office), but I believe it was Stein the Elder (Herbert) who 
observed that if something can't continue, it won't.  Watch out below!

Carl

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