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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (727)	9/13/2000 9:10:01 PM
From: Skeeter Bug	Read Replies (1) of 65232

>>productivity numbers continue to astonish<< jim, the "astonishing" aspect of the productivity numbers are due to hedonic pricing, a statistical method of measuring "characteristics" of items and not their literal value. hedonic pricing was instituted in 1996 b/c the productivity gains that greenspan "knew" existed (with no evidence) weren't showing up using the standard formulas. therefore, greenspan changed the formula. the "productivity miracle" started in 1996. more like a statistical mirage. really! in short, the productivity miracle is NOT related to increased productivity as measured in the traditional financial way. it is ENTIRELY due to a statistical adjustment that no other nation in the world uses. productivity is up about 2.5-3% +- using traditional financial (reade - REAL!) gauges.

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