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To: yard_man who wrote (59186)	8/28/1999 10:30:00 PM
From: Lizzie Tudor	Read Replies (2) of 86076

his comments now seem to be a marked change from the status quo, On BBC today they speculated that Greenspan sees the internet as similar to electricity at the turn of the century... apparently the invention of electricity spurred all these other inventions, it was pivotal for the US economy, at first just electricity related businesses, then the reinvention of traditional business that used electricity and then finally unrelated industries such as cars that were able to flourish thanks to the prior wealth created from electricity. Anyway the interviewee speculated that Greenspan sees the internet as electricity was in the past... his "irrational exuberance" period was prior to the internet after all. Greenspan has spoken with some economic historians at Harvard recently which has led to this speculation. Anyway the point is that if true, it is entirely possible that AG could have a different tact now than he did 2 years ago when we were just making improvements in automation, etc. OK so since the past is irrelevant, that leaves us with what, the fat-briefcase rule from CNBC as the only reliable gauge of Greenspans future actions? <gg>

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