Commentary: It's A Mad, Mad, Mad, Mad World EconomyBy
It's strange. On Wall Street, the Dow hits a record 4200 the same day the dollar drops to 85 yen. It's not supposed to happen that way. U.S. growth jumps to 4% in 1994, but inflation drops to 2.5%. Can you remember that happening before? Inflation hugs the ground, but interest rates spike to the sky. Since when? The unemployment rate drops like a stone, but wages don't budge. Productivity soars to 20-year highs, but all the gains go to corporate shareholders, not employees. Prices on commodities and intermediate goods jump but never get passed on to the customer. Gold dances close to $400 an ounce, but computer prices plummet.
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