On Thu, 24 Jan 2002, Doug Henwood wrote:
> They didn't forecast the exact timing of a recession. The average
> growth rates they predicted over the full period were low enough to
> allow for the requisite number of recessions within that timespan.
But if this is an expected recession, then its occurrence shouldn't knock anything off the original 10 year forecast. No? And yet it's knocked a trillion dollars off it. Doesn't that mean it has to be something they didn't take into account when they made their forecast last year?
Michael
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com