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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (3950)	5/31/2001 12:34:56 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Mrs. P, Since Greenspan and the FED have talked about the productivity growth as an underlying causal factor for the economic and equity boom of the 1990's, It's hard for the FED to say it does not exist and is not relevant. I do believe that Stephen Roach and Bill Gross have shown that Productivity growth is cyclical in nature and has very likely been overstated in the past 5 or 10 years. John M and I have posts about this last night and today and it's something that we've been considering here for a while. You can not have a Market Mania without, points of justification for the rapid rise in prices, but they may later be shown to be unsound arguments. just pondering how much it actually ameliorates the demand side of the equation an excellent point.... I agree with you. -g- John