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Pastimes : The Big Picture - Economics and Investing -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (639)	10/31/2000 1:04:02 PM
From: Arik T.G.	Read Replies (1) \| Respond to of 686

Skeeter Bug, I agree that many numbers are false, and that the stock market bubble is one of the major contributors to the extension of the economic cycle (which reached its peak last spring), and that there is no new economy, just economy. But I disagree with the example you gave, and Daniel Chisholm gave you a good answer. Technology is not a new thing. Tech advances were here since the first chiseled stones our prehistoric anchestors used to enhance their manual hitting and cutting abilities. Laser switching of data, ASICs and gene transplants are just more steps in the ladder of tech advances, not as big as the use of Fire, the wheel, or electricity, but each enabling to do things more efficiently then before. My favorite example is the Mainframe computer, replacing the hundreds of clerks adding rows of numbers with pencils. ATG