Tony - Re: "Paul and thread, I watched a rerun this morning of Greenspan's Thursday talk. Once again (as you reported last time) he gave a helluva lot of credit to technology as the key factor that has kept bad things in check, like runaway wages and inflation, in a healthy, growing economic environment, yet with tight labor market. He spent 15 minutes on tech alone, talking about inventions from the transistor, through the microprocessor, and finally to the Internet, as the reasons for the productivity gains that have held back inflation. He really does get it. He handled every question afterward so well, that you'd think he had them in advance. With his very high level of understanding, at a macro level, and appreciation of technology, there's no question in my mind that we're in the right stocks here, guys"
Thanks for the Greenspan summary.
Maybe he would not be seen as such a villain if the nervous nellies on Wall Street and Fund managers didn't bail out of stock every time Greenspan mentioned the words "inflation".
Paul |
