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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (10704)	6/1/2000 6:27:00 PM
From: t2	Read Replies (1) \| Respond to of 24042

If you read his major speeches going back to early '98, you'll know he's more aware of the new economy than most realize. Pat, You are right--he has indicated his awareness for the new economy in past speeches----refering to technological advancements helping productivity. However, I don't think that he mentioned the contribution of free trade to controlling inflation--or at least he does not appear to taking as seriously. IMHO, if he just takes a wait and see approach, the wages may go up...but then the jobs will start disappearing (overseas)and the wages head down again. I just think the market in the new free trade economy can correct such imbalances. In the past, the US could have been considered an island---as tariffs were increased if necessary to keep the external influences under control. Now, the jobs will simply disappear if wage inflation becomes more evident. The imbalances will then correct themselves until an equilibrium is reached. It think the FED's biggest worry was the stock market. Now that bubble has burst and they won't be as aggressive.