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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: LLCF who wrote (5003)6/15/2001 11:47:31 PM
From: KyrosL  Read Replies (1) of 74559
 
>>all these wonderful things should boost output and would already show up in the numbers

But they do show up in the numbers. Even if you take out the hedonic adjustment for computer manufacturing, the US GDP has expanded vigorously in the last few years. This is corroborated by the substantial increase of Government tax receipts -- both Federal and State. So there is no question that US GDP has grown briskly in the last few years.

The contention that US GDP growth is largely due to hedonics is pure BS. I have been pretty bearish towards the markets for the last couple of years, and expect the economy to get a lot worse before it gets better, but that does not mean that I accept as fact all the paranoid crap accepted as gospel by the perma-bears. They are almost as bad as the perma-bulls at the height of the mania.

Kyros
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