Posted by Dinah on June 29, 2008, at 23:03:24 [reposted on July 6, 2008, at 13:09:20 | original URL]
In reply to Re: Anyone Else Starting To Fear The Economy? » Horned One, posted by fayeroe on June 29, 2008, at 19:44:18
I didn't say the problem was caused by consumer anxiety. In fact I specifically said that the rising petroleum prices were a major problem right now, and if there is a solution there, I'm not aware of it.
What I was saying was that there are safeguards in place now that would make a disaster of the magnitude of the crash of '29 unlikely. And that yes, to some extent, consumer confidence influences the economy as well as being influenced by the economy.
However, I can't see any way at all petroleum costs at their current level won't cause major economic problems.
I'm no expert however. My recollections of college economics are relatively vague.
poster:Dinah
thread:838387
URL: http://www.dr-bob.org/babble/poli/20080312/msgs/838399.html