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To: Oeconomicus who wrote (132052)	9/28/2001 4:32:13 PM
From: GST	Respond to of 164684

Bob - that might cut it from a business cycle standpoint -- but it would not give you a 20 year trend. The business cycle and technology are both important "secondary" considerations. I do not doubt that a recession will pose some serious issues for productivity, but look at how fast companies are pulling the trigger and sayng "so long" to their employees. Time was that the handshake was greased with a good severance package -- watch out now for the old "lock the door while he is at lunch" approach to come back into style. The issue now is not productivity -- it is recession -- how deep, how long, etc. We are fighting the terrorists by going after their bank accounts -- and they are doing the same to us. We did it to the Soviets. It works. We are vulnerable if we do not smarten up.