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Pastimes : Home on the range where the buffalo roam

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To: Walkingshadow who wrote (10145)	2/13/2001 11:21:59 PM
From: A.L. Reagan	Read Replies (2) of 13572

Here's how Alan Greenspan figures out the state of the economy: Corporate managers more generally, rightly or wrongly, appear to remain remarkably sanguine about the potential for innovations to continue to enhance productivity and profits. At least this is what is gleaned from the projections of equity analysts, who, one must presume, obtain most of their insights from corporate managers. According to one prominent survey, the three- to five-year average earnings projections of more than a thousand analysts, though exhibiting some signs of diminishing in recent months, have generally held firm at a very high level. Such expectations, should they persist, bode well for continued strength in capital accumulation and sustained elevated growth of structural productivity over the longer term. Sheesh, he's making monetary policy based on sell-side analyst reports? The same info sources that led to trillions of dollars of market cap vaporization? (I used to think A.G. was unfairly picked on, but if he's reading Henry Blodgett and Abby Jo to make Fed decisions, God help us.) federalreserve.gov

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