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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: smolejv@gmx.net who wrote (46093)	2/12/2004 8:05:05 AM
From: Ramsey Su	Read Replies (1) of 74559

Dolinar, the first time I ever thought about the subject of productivity was probably over 15 years ago, when I read an UCLA report about how computers absolutely have no impact on productivity. How could that be? Common sense and personal experience seem to suggest otherwise. Well, if you strictly look at the numbers, productivity did not change much before and after the computer age. So, technically, one may draw that conclusion. I think Greenspan is playing the same game. He first used productivity as an explanation of the new economy and why we were not in an equity bubble which, in Jan, he explained how the Fed's treated the consequences of this bubble that did not exist. Yesterday, he is explaining that productivity will lead to employment growth. How so? No clue. He cannot name one area where high employment growth is expected. May be the same 1 million nurse that Elaine Chao said we need? Ramsey

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