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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 230.84-0.7%Dec 31 3:59 PM EST
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To: GST who wrote (129441)8/1/2001 1:53:34 PM
From: Dave  Read Replies (2) of 164684
 
I have always paid about the same dollar amount for every computer I bought in the last 20 years -- but each one is "better". So in a chain weighted world these product improvements are captured as productivity improvements.

I thought that was called hedonic pricing, not "chain-weighted dollars."

At first glance, it is unbelievable that Easy Al has resorted to so much accounting sleight of hand in order to support his economic agenda. But remember that the Federal Reserve is a privately owned enterprise whose mission, like all capitalist enterprises, is to transfer wealth from the pockets of other enterprises into its own coffers. It is most decidedly NOT to protect American consumers, or to ensure the health of the economy. Rather, his job is to realize policies that optimize this wealth transfer.

One of Greenspan's wealth-transfer methods must be to ensure maximum public and private debt to the Federal Reserve and its member banks. By periodically lowering interest rates to get the nation hooked on debt, and subsequently raising them to milk interest payments from us, the Fed does quite nicely.

It's interesting to look at Greenspan's job from his point of view, rather than watching from the outside viewpoint of investors, as the media likes to do. I wonder how else the goals of the Fed are at odds with those of the nation.

Dave
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