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Politics : Ask Michael Burke
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To: Skeeter Bug who wrote (73551)1/14/2000 6:58:00 AM
From: Earlie  Read Replies (1) of 132070
 
SB:

Good comments and accurate.
It's too bad that the average "investor" doesn't know or care about the story that is being written by the statistics,.....at least for those who take the time to dig into them a bit. Mike frequently comments on the writings of Richebacher. I respect Kurt immensely as he does a superb job of sifting through the stats to see just where we are heading.

I fully agree with the view that "the tech revolution" idea is overblown. To be really worthwhile, it should have added dramatically to productivity. It hasn't. In fact the current rise in productivity is one of the weakest of the last half century. For those who think the PC has improved productivity, factor in the training and maintenance costs and it is a wash.

There are several rather nasty time bombs ticking away out there in our N.American economy. The one I personally worry about the most is the fact that the U.S. consumer is on a borrowing/buying binge that is not sustainable for much longer. He/she IS buying up the world's excess capacity, but it is being done with off-the-graph debt, based on perceived stock market wealth. Once the market folds, the consumer will (be forced to) pull in his horns and there goes the economic miracle.
No longer whether this occurs, just a question of when.

Best, Earlie
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