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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ilaine who wrote (97148)4/22/2001 5:31:59 PM
From: patron_anejo_por_favor  Read Replies (3) of 436258
 
Oh, he might be right. If I were absolutely convinced he were wrong, I'd be loading the boat with gold, natural gas futures and shorting the long term T-bond from here until doomsday. As it is, I'm holding mostly cash, so in effect, I'm betting that he probably is right. Productivity will fall as a function of slowing growth, bank on it. The monetary aggregate growth is not an idle issue, it will come back to bite us on the a$$ sooner or later. The issue of degradation of services is a real one, especially since we are in a "service-oriented" economy...and it does not get hedonically-adjusted, unlike manufactured goods. I'd urge you not to draw conclusions too quickly based on what you see in the Metro D.C. area. For numerous reasons, it is insulated from what happens everywhere else around the country (ie, I don't see many layoffs being proposed in federal jobs, do you?)
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