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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (77732)	3/13/2000 11:13:00 AM
From: Les H	Read Replies (1) \| Respond to of 132070

You're getting mixed up on your history. The drop in the farm employment has been happening for well over 50 years. The new agers, such as yourself, are trying to argue the productivity figures of the last year or two. The basic mistake is that many of the anti-inflationary statistics, such as CPI, were a direct result of the Asian crisis, and some stock salespeople are trying to attribute those to tech stocks.

To: BGR who wrote (77732)	3/13/2000 11:24:00 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

BGR - [[...Remember the transformation of the USA from am agricultural economy to an industrial one? While employment fell in the agricultural sector from 50%+ at its high point to the present 2-3%, the slack was taken up by the manufacturing sector, while the overall economy became more productive....]] Great example! The Agricultural sector has a long, sustained record of substantial annual productivity growth, unfortunately accompanied by an equally substantial loss of pricing power. It is hardly a surprise to note that the vast majority of sector participants have 'bought the farm', or at least been involved in the transaction. Productivity growth is always positive for the overall economy, but is often no more than a desperate survival attempt by the industry participants. Regards, Don