Quote:
Originally Posted by aceventura3
Do you believe there is a normal business cycle? A cycle that is not controlled by the people in Washington? I believe there is a normal business cycle and I believe decisions made by many groups (not just Washington) can make the cycle have bigger peaks and valleys. For example I think OPEC can effect the normal business cycle. I think Presidents get too much credit and too much blame for the economy. I also think there are long tails on many government policies targeted to have an impact on the economy. For example education policies today may not affect our economy until our children going into school today, go into the workforce in 20 or so years. So, who gets the credit or blame for having the vision to sacrifice today for a benefit a generation away.
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I think consumers have a cycle too. I mean how many people are rushing out and buying new computers when the one they bought 3 years ago is just fine? My car works and I don't need another one, I'm not moving anytime soon, I have all the furniture that I need, and the list goes on and on. It's not like there have been major improvements to make consumers want the latest iPods when the one they bought a few years ago works just fine.