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Strategies & Market Trends : The New Economy and its Winners

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To: re3 who wrote (6815)	5/6/2001 12:38:53 PM
From: Bill Harmond	Read Replies (1) of 57684

Greenspan (and all the rest of us) learned first hand and in real time the network effects of Fed actions to the wired economy. The Fed triggered both the boom and the bust. This compressed cycle is a first in economics. He even admits it, and he says the Fed must respond more quickly because of it. Hence this historical easing. The digitization (as Jack Welch calls it) genie is out of the bottle. The economy has evolved a nascent nervous system. The Federal Reserve must develop the tools to deal with this, not just with the effects. Not just because the status quo is distructive, but because the wired economy is (solely, IMO) responsible for the gains in productivity. It used to be said of General Motors. The updated mantra should be "What's good for Cisco is good for the country."

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