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To: Robert Rose who wrote (119709)	3/8/2001 1:20:41 PM
From: Skeeter Bug	Respond to of 164684

robert, the new economy is a statistical myth. what we really have is an old economy that is doing slightly better than before. productivity numbers are faked. fully 50% of gdp growth and productivity are a figment of alan.com's imagination. in 1996, alan.com decided he didn't like the gdp/productivity numbers. they weren't what he "expected." so, just like an old economy business person, he changed the system of measurement. he said that a computer that has twice as fast a processor is worth twice as much even though you paid the same amount a year later. iow, gdp is no longer an economic measure. this is called chain weighted dollars. nobody in the history of the world has ever measured gdp or productivity in this manner. 0.5% of the economy is responsible for 50% of gdp growth now. of course, $50 billion chain weighted dollars can't buy you a cup of coffee. inflation is also artificially reduced using hedonic pricing methods and excluding anything that pops up like energy. eg, if the cost of something goes up, they substitute a lower cost item to keep inflation low. the "new economy" is a myth. that is why greenspam is increasing money supply at or near double digit rates - an old economy way of goosing the economy. there is no new economy input so old economy methods are used.

To: Robert Rose who wrote (119709)	3/8/2001 1:54:34 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

>i'm really interested in your perspective here. i really don't know..... Rob, good topic lets discuss it a little later. Right now I'm very busy swearing at bunch of stock brokers. These guys have been calling me every day for the last year telling that we've bottomed!