Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: Freedom Fighter who wrote (1140)	2/7/1999 4:45:00 PM
From: porcupine --''''>	Read Replies (2) of 1722

>>The present assumptions for the sustainable growth in real GDP in the U.S. are between the 2.5% and 3.5%. I have seen no higher estimates. The Fed believes it is lower than that upper range presented. Present assumptions are that inflation will average 1%-1.5% over the next 30 years. That would give us between 3.5%-5% free cash flow growth.<< Milton Friedman has written that there is no reason why the U.S. cannot resume the 4% to 6% average annual growth rates it enjoyed for much of its economic history, if (admittedly a big if), taxes are reduced to pre-New Deal levels. While I don't expect taxes to ever go that low again, there is hope that the government's portion of the economy will decrease, going forward, from the current 40% level, thereby freeing up resources that would allow the private sector to grow at a rate faster than the current 3.5%.

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