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To: H James Morris who wrote (108362)9/12/2000 1:43:55 PM
From: Robert Rose  Respond to of 164684
 
<Because productivity gains still exist. >

But the level of the playing field has just altered. If higher energy prices fuel (no pun intended <g>) higher inflation, the Fed will be compelled to raise interest rates further. (I know they are talking otherwise now, but 1+1 always equals 2, never 1.)

Given the fact that while beaten down, many New Economy stocks remain overvalued by historic measures, I can still imagine a market where the Elephants still somehow know more than the rest of us....



To: H James Morris who wrote (108362)9/12/2000 4:43:49 PM
From: Skeeter Bug  Read Replies (1) | Respond to of 164684
 
hj, productivity above and beyond historical averages are 90% statistical myth. don't believe the hype.