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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (87074)	12/18/2000 10:28:10 AM
From: Knighty Tin	Respond to of 132070

Ike, "Well, Dick, I didn't like the beat and you can't dance to it, but the words are cool, so I rate it a 93." <g>

To: re3 who wrote (87074)	12/19/2000 9:29:47 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Ike, I seem to recall your asking about the magnitude of change created by the hedonic hoax. the Nov., 2000 issue of the Richebacher Letter states that computer investment up $43.3 billion dollars from the end of 1996 to mid year 2000 apply the hedonic deflator to the current dollars spent and you get $227.6 billion in chain weighted GDP growth . To quote Dr. Richebacher " But apart from the $43.3 billion spent in current dollars, these chained dollars, resulting from collapsing computer prices, are phantom dollars that nobody pays and nobody receives. And for this reason, we regard this practice of generating real GDP growth by a collapsing price index as complete economic nonsense. " The Richebacher Letter 1217 St. Paul St Baltimore, MD 21202 I must again state the obvious that companies state their results in current dollars not chain-weighted dollars. mike