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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Hockeyfan who wrote (8683)	6/14/2000 1:19:00 PM
From: Hockeyfan	Read Replies (1) of 18137

Greenspan Says Productivity Gains Are `Irreversible' It appears that Greenspan has come around to my way of thinking !! This is one of the pinions supporting my argument for a new valuation paradigm. The other argument is the change in demographics - baby boomers moving from their spending to their saving years. quote.bloomberg.com ``Most of the gains in the level and the growth rate of productivity in the U.S. appear to have been structural, largely driven by irreversible advances in technology and its application,'' he told the New York Association for Business Economics. ``Knowledge, once gained, is almost never lost.'' Greenspan's comments suggest that rising worker productivity can give Fed policy-makers room to allow the U.S. economy to grow at a faster rate than once assumed before causing inflation to accelerate. Greenspan gave little credence to arguments that worker productivity gains might be temporary. ``That there has been some underlying improvement in the growth of aggregate productivity is now generally conceded by all but the most skeptical,'' he said. ``Evidence of a decided improvement in the growth rate of structural productivity from the macro data has continued to strengthen,'' he said. ``And, an examination of the micro level evidence is even more compelling Greenspan said economic data hasn't fully accounted for gains in worker productivity in the non-corporate part of the U.S. economy -- such as small businesses and medical offices. He said the lack of such statistical evidence ``simply is not credible,'' and argued forcefully for a new approach to measurement.

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