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To: MythMan who wrote (30626)	10/24/2000 10:03:50 AM
From: LLCF	Read Replies (1) \| Respond to of 436258

<Anyone who thinks there hasn't been some productivity gains is foolish. > Wowa... nobody is saying THAT are they??? IF so you're right, they ARE foolish. DAK

To: MythMan who wrote (30626)	10/24/2000 10:27:11 AM
From: Mike M2	Read Replies (2) \| Respond to of 436258

MM, you exagerate. Nobody has suggested that there are no productivity gains but they do claim that these gains are overstated. Dr. Richebacher points out that true productivity gains result in increased income for either business profits or personal incomes but the number do not support. Business profits had peaked in 3Q97 but did show a 10% pop in ? 2Q00. go back to the Bank credit Analyst april 1999 or search Barron's for Martin Barnes of BCA for summary of the issue to see the impact of reduced interest expense and less depreciation -due to prior sluggish investment have had on business profits. As Dr. Richebacher points out the problem with using the hedonic multipler to calculate chain weigthed GDP is that ithere is no corresponding income growth for anyone -business or personal. Need I remind you that the glorious high tech companies that your sweetheart Maria B gushes over report their results in nominal dollars not chain weighted dollars. You need to stop heckling and throwing spit balls and listen to Heinz about tough love Austrian style. There is no turning back we are doomed ! -g- Mike ho ho ho The Richebacher Letter 1217 St. Paul St. Baltimore, MD 21202