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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (119249)	9/1/2001 7:58:15 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 436258

twistedtunes.com <Greenspan stands accused of heresy on three counts --- heresy by thought, heresy by deed, heresy by word, and heresy by action. No, make that four counts. > Is deed very different from action? Heretical thought? Wow. Lucky the inquisition can't mind read. Yet. There was some misunderstanding of the productivity boom. There are not necessarily profits in it and if there are, they go to the creators of the productivity improvement. The beneficiaries are the end users who get an improved lifestyle from the productivity gains [such as me with my cyberspace links which enable me to hear that song] and the creators and owners of the new developments. The intermediaries compete away the productivity improvements and they get nothing and in fact a reduction on their bottom line. Overall, the productivity improvements REDUCE profits of people in the productivity chain, other than the end users and the producer. Disintermediation is the name of the game. As you say, there was a huge wealth transfer as people tried to capture but were misled by those possible productivity gains the profits from which were as slippery as an eel. Nevertheless, the productivity improvements from all that stuff are huge. They just don't show up [as you say] in the way they try to measure them. It's all part of the fun. Mq

To: Les H who wrote (119249)	9/2/2001 3:30:01 AM
From: clochard	Respond to of 436258

contraryinvestor.com "As you know, together these three retailers accounted for $73 billion of total sales in their recent quarterly results. That's one huge chunk of consumer spending. It is nothing short of clear that these retail category killer are experiencing pressure and have resorted top the tactic of "giving in" on price to maintain/grow market share as is certainly displayed in the results of all three. If this is reflective of an environment where a supposedly strong consumer is expected to carry the day for the economy until the corporate sector gets backs on its feet, then Heaven help the macro retailing community in this country. " The consumer won't be carrying the load much longer..