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To: Tunica Albuginea who wrote (10696)	6/1/2000 4:23:00 PM
From: t2	Read Replies (3) \| Respond to of 24042

I would also point out that wage pressures can subside a lot faster than they could back in the 1970s, 1980s, and even a part of the 1990s. The move to free trade worldwide will prevent increases. As corporations asses the most cost effective location for a new plant, wages will be a big part of their analysis. They will look anywhere in the world that can support their facilities. This can only cause short term wage inflation as the corporate strategists make plans for future expansion. That will create a lag. The corporations know that they have to remain competitive on a global basis and will produce wherever they can get the best production for unit of cost. That is the biggest factor (free trade--and HUGE developments in information technology) that will prevent inflation pressures. Once wages and other costs elsewhere reach the same levels as developed countries, then we can get an inflation problem....and I don't see that happening for at least a decade or two. I hope that Greenspan and company realize that the old theories that worked may not hold in this environment....and it is a different environment.

To: Tunica Albuginea who wrote (10696)	6/1/2000 4:36:00 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 24042

Even More OT: How the Treasury is Proposing to Hide the National Debt Hi Tunica, I've been enjoying your back and forth with David T. I thought I could jump in here and add Caroline Baum's*** several trillion cents on the matter: quote.bloomberg.com As you might infer from Ms. Baum's logic, Bush's plan (to) achieve that by paying down the National Debt with the Budget Surplus, may simply be a continuation of a well orchestrated ruse. Understood by far too few in the general population. Best, Ray ***Bloomberg's best columnist, IMO.

To: Tunica Albuginea who wrote (10696)	6/1/2000 5:24:00 PM
From: Hank Stamper	Respond to of 24042

"I believe this will be relieved by retirees working. This was not the case in 94 and so that is a significant difference" Well, the retirees better start putting up their golf clubs now, because employment costs inflation pressure is waxing. You better tell them they're needed back at work to keep the market going. Cuz I ain't got the guts. "the Naz ( where Irrational Exub. resided ) went to Weight Watchers and has had a BIG weight loss, something like 40 -50 %. In fact many of those " Exuberettes ", lost 90% " The mean Exuberette, still looks like Richard Simons. Beads of sweat but still can't get them old pants on. Just to get to the historical norms, many more dial-a-meals needed. "Finally, David: One BIG difference between now and 1970, 1978 (Jimmy ), 1990(Bush) is that in those times Government was putting daily weight ON and growing FASTER than GDP!!! ." HA!!!! I GOT you to agree with me! <vbg> ..... Actually, I agree with your point. It is a huge difference that has helped to make investment available to productive business but also available to unproductive market speculation. It is different but not enough to slow employment cost pressures. That's the big issue now. When that gets trimmed, Exubertina will begin to look positively svelte. Ciao, David Todtman