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To: hueyone who wrote (58418)	3/12/2002 10:38:13 AM
From: hueyone	Read Replies (2) \| Respond to of 77400

Edit: Rather than deny increased growth and profitability due to increasing productivity, I would be more accurate to say I do not believe the resulting increase in growth from productivity is enough to justify PEs at levels significantly higher than historical levels. Regarding GDP, my guess is that we will be lucky to do a 3 percent real increase per year on average. Best, Huey

To: hueyone who wrote (58418)	3/12/2002 11:52:19 AM
From: RetiredNow	Read Replies (1) \| Respond to of 77400

Thx for the post, Huey. Do me a favor. Go to that same site and download GDP stats from 1929 forward, which are presented in current dollars. Then calculate the GDP growth each year. Then also calculate the rolling average each year. You'll note that we are indeed trending upwards every so slightly. The data ends in 2001 with a rolling average GDP growth rate of 6.9%. That's alot higher than the previously mantra of 3-4% sustainable growth rate that economists were fond of. I think inflation is about to start rearing it's ugly head and that will dampen things a bit going forward (which maybe good for gold, btw), but it really is looking like we can expect GDP growth rates to climb steadily higher over time.