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Official Market Forecast

Sales and income figures show an easing up of the rate at which business is easing off. This can be taken as ample proof of the government's contention that there's a slowing-up of the slow-down. Now to clarify that, it should be noted that the slowing-up of the slow-down is not as good as an upturn in the down-turn. Also, it suggests that the climate's about right for an adjustment of the readjustment to rate structures.

Now, turning specifically to rates. We find a very definite decrease in the rate of increase. This clearly shows there should be a letting up of the letdown.

Of course, if the slow-down should speed up, the decrease in the rate of increase of rates would turn into an increase in the rate of decrease.

And finally, the inflation of the resultant recession would turn the recession into a depression while deflation in the rate of inflation would give the impression of a recession of the depression.

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