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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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The key here is employment..right now it is 5.5% unemployment...so long as people keep working the system will keep on going...
As I said before my HS Govt teacher way way back in ahhhhhh 1971 said that in a modern economy 5% to 6% unemployment can be considered to be full employment....So unless those numbers start to creep up radically........
Unemployment should remain somewhat low due to the fact that with the $$$ being so low our goods and services are cheap on the world market. That is the silver lining that may save our day.
The US is truly being faced with a transfer of wealth right out of this country...with $700B right out to the oil producers. The only thing that can offset that is if the price of the goods and services the US produces reflects that cost.
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"Some Observer"
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