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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Robbins who wrote (1614)	11/21/2000 10:39:46 AM
From: LLCF	Read Replies (1) \| Respond to of 4409

<Technology hasn't changed much of anything.> I agree at least with the premise... that productivity due to technology is way over stated. Productivity is by defenition related to labor costs... ie. how much does one person produce. Yet the hyperbole in the press about how many petibits of information is flying around how fast completely ignores this. The assumption is that a computer that is 2x as fast makes people much more productive, if not twice, at least substantially... right?? Wrong, I've been through many tech upgrades in one of the most highly technological business there is... trading/banking. The upgrades have done little to reduce costs OR increase revenues.... more likely just to make sure we maintain our piece of the pie. Besides, if you believe that productivity is soaring and is makes everything "different this time", better look back to the 20's and 30's when the tractor replaced 10 men working on a combine... yes, some of the biggest productivity gains in history came as we headed into the great depression... and may have exacerbated it as millions of farm workers headed for the cities. What's the parallel this time... well, millions of labor jobs going overseas, increasing productivity in this country while our workers join either the service sector or the hightech sector. Much debate has been heard as to whether these lost jobs are being replaced by low level 'hamburger flippers' {democrats assertion} or highly paid highly skilled technology jobs {republicans} and I would love to hear more about this. It is very meaningful IMO... why? Because if indeed we are developing a "third world" here in this country {which anecdotal evidence seems to support} I believe politically it will be untenable in the long run and the government will again swing back to redistributing wealth... ie. running deficites and debasing the currency. As to technology and the stock market "it's different this time"... this is balderdash IMO. The increasing % of the stock market being tech makes it more cyclical, not less IMO. I don't know where these folks come up with this stuff. DAK DAK