Tough times: How bad are they? - 8/7/2008 8:25:00 AM - Industrial Distribution: "It seems clear our economy is slowing down. Although first quarter GNP grew at a slow rate, our newspapers are filled with stories about a troubled economy.
The sub-prime loan “crisis” has shaken the stock market. Oil prices have increased well beyond previous record levels. Food prices, metals prices and other commodities have also seen dramatic rises. The Fed has acted aggressively to support our financial infrastructure and interest rates are very low indeed.
All signs point to a recession. We should also be very worried about inflation at the same time—what is known as “stagflation.”
And yet:
Nearly every prospect and every customer we talk to is enjoying a very successful year, on top of great results last year. INDUSTRIAL DISTRIBUTION magazine reports that many of the Big 50 distributors report record years in the making. The United States manufacturing sector is thriving."
Friday, 8 August 2008
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