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Folks,
I don't always agree with this economist, but he makes some very good points
relating to int'l trade, an excerpt below... he adds to the idea why this is
a good time to start a biz... you competitors likely paid to much for
equipment, agreed to pay employees too much, making you better position to
take serve their custoemrs...
John
http://www.gilder.com/AmericanSpectatorArticles/Deflation.htm
The raw number of bankruptcies is on the way to surpass 1998 this year and
next as the process grinds on until it completes its adjustment by putting
debt-laden companies out of business. New businesses then form with workers
agreeing to accept lower nominal wages that have higher purchasing power, and
bankrupt firms cease operations or reorganize under new debt structures, in
either case leaving most of the original investors with little to show for the
risks taken.
Wednesday, October 31, 2001
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