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To: Mohan Marette who wrote (136691)7/15/1999 9:24:00 AM
From: Ian@SI  Read Replies (1) | Respond to of 176387
 
Mohan,

Don't get me wrong. I loved today's numbers; and for that matter, the full picture as it has been unfolding during the past few years.

Manpower is being replaced with technology. Yet the growth has created more higher valued jobs than those being displaced. Clearly, this picture is not anywhere near so attractive for anybody who happens to be one of those "displaced".

But we're witnessing the US economy create enormous wealth not only for its residents but also for many other sectors of the world.

I was only suggesting there might be another motive in the back of Greenspan's mind for the preemptive strike last month. i.e. - put some rate movement strength "in the bank". He had lost much of his leverage with the LTCM fiasco.

JMHO,
Ian.