If It's a Bear, Can it Turn Bull?

["John Gelles" <jjgelles@xxxxxxxx>]

            With the end of the BIG arms race, and US
            Keynesian spending based inflation, we saw
            global capital asset inflation and wealth effect,
            coupled with lower direct and indirect labor
            cost per product, keep us from losing steam.
            Helpful too was Asian flu.

            Now what?  Must consumption, profit, price
            and employment decline?  Must something
            other than consumption, like great new
            government investment (in green or star wars
            or rescue of the very young), kick in to avoid
            a slide back to not so good times?

            Can private investment in wireless and optical
            fibre to the home, and in gene based prevention
            of disease, do as well as inflated fiat money?
            Is the day of PKT reckoning at hand?

            If  PKT or endogenous growth theory were
            anything like a science, someone would know
            something.  If purely an art, the two of them,
            then we will wait to see what happens.

                John Gelles