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| | One over Virtuous Cycle |
 | | In short, our economy is still enjoying a virtuous cycle, in which, in the context of subdued inflation and generally supportive credit conditions, rising equity values are providing impetus for spending and, in turn, the expansion of output, employment, and productivity-enhancing capital investment. |
 | | In short, our economy is seeing the end of a virtuous cycle, in which, in the context of subdued inflation and generally supportive credit conditions, rising equity values had provided impetus for spending and, in turn, the expansion of output, employment, and productivity-enhancing capital investment. |
 | | The essential cause of the emergence, and persistence, of this reciprocal of the virtuous cycle is arguably the increase in the rate of inflation which obviously puts negative pressue on recent price stability. |
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