[lbo-talk] Kerry's Tax Cut Makes Me Wanna Ralph

Doug Henwood dhenwood at panix.com
Fri Apr 2 10:30:39 PST 2004


Carl Remick wrote:


>What's to keep rising oil prices from, eventually, causing another
>huge wave of inflation as occurred in the '70s?

Depends on whether the Fed accommodates the rise. If it doesn't, rising energy prices will squeeze profits and household budgets, and take a crimp out of other spending. It could recreate the stag without the flation.

Doug



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