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Technology Stocks : Intel Corporation (INTC)
INTC 34.32-1.2%Nov 18 3:59 PM EST
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To: Road Walker who wrote (97804)1/29/2000 1:57:00 PM
From: Barry Grossman  Read Replies (1) of 186894
 
Jim,

Good morning or should I say good afternoon.

I don't believe your example of rising PC ASP prices is an example of inflation. The pc that you buy today for $x is not the same as the pc you bought a year ago for $x. It has been improved and today's price isn't directly comparable like the cost of an apples would be or the price of a bag of cement would be. This is the same point I was trying to make about cars. They aren't exactly the same year to year so comparing their prices year to year is a bit of a fallacy.

The failure of the statistics to consider this, I believe, belies the government inflation figures which most of us take for gospel. I don't for the above reason and also for the reason that I belive that the government misses a great deal in their information gathering. How do they account for the economy that nobody sees - the underground economy - the cash economy. Out here in CA it has always existed and still does. It is not counted now and in the past, I recall estimates that it was >10% of the part that was counted.

I maintain that overall - THERE IS NO INFLATION.

As far as the fed failing to control anything, I can't see that happening. Rising interest rates will hurt the little guy and will slow some things down as was pointed out in the post from the guy who is a NJ real estate appraiser.

Cash is still king and Intel has the cash. No problem there.


Re: the rate of productivity increase is itself increasing

I didn't watch Alan's confirmation so missed his comments. Perhaps Gore did see them since he so glibly answered Insana's question with Alan's argument. Not a bad thing.

Barry
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