Hello Aloha1,..Re:.Gosh, looks like AG is finally getting it!!
Actually, he's been getting it for a long, long time. Here is a link to his actual speech, and other speeches, which echo themes he's talked about for well over a year now. <g> In particular, look at the Oct. 15th speech as well as the one from Jackson Hole, Wyoming. It all depends on how the media chooses to spin things.
Remarks by Chairman Alan Greenspan
Information, productivity, and capital investment
Before The Business Council, Boca Raton, Florida
October 28, 1999
bog.frb.fed.us
One result of the more-rapid pace of innovation has been an evident acceleration of the process of "creative destruction," which has been reflected in the shifting of capital from failing technologies into those technologies at the cutting edge.
In particular, technological synergies appear to be currently engendering an ever-widening array of prospective new capital investments that offer profitable cost displacement. In a consolidated sense, reduced cost is reflected mainly in reduced labor cost or, in productivity terms, fewer hours worked per unit of output
bog.frb.fed.us
Cheers,
Lee |
