Now we have another confirmation that there is no (inflationary) pressure in this economy. There's simply too much competition for raising prices.

All the talk about corporate downsizing has made people in large corporate bureaucracies tremble, because some of them realize that if they went into the competitive labor market, they wouldn't be able to earn as much.

All the talk about corporate downsizing has made people in large corporate bureaucracies tremble, because some of them realize that if they went into the competitive labor market, they wouldn't be able to earn as much,

It's really taken an awfully long time to convince all the authorities that there is no inflationary pressure in this economy,

It's really taken an awfully long time to convince all the authorities that there is no inflationary pressure in this economy, ... The PPI should have done it last week, and even that didn't do it, so now we have another confirmation that there is no pressure in this economy. There's simply too much competition for raising prices.

The biggest issue facing the new secretary of labor should be the complete reform of the state employment services led by the federal government. If we do that, if we can reform those state job services, we can recapture 20 billion hours of lost productive time.