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To: michael97123 who wrote (557)	5/8/2002 4:04:22 PM
From: Gottfried	Read Replies (1) \| Respond to of 13403

Mike, OT *** your post to JS Please read the first post re posting etiquette. Traders posting trades start with the stock symbol. JS is the symbol for JEFFERSON SMURFIT. This could lead to confusion. Someone scanning all the message headers would think you're posting a JS trade. Gottfried

To: michael97123 who wrote (557)	5/9/2002 12:03:23 AM
From: Jacob Snyder	Read Replies (2) \| Respond to of 13403

re: 2002 vs. 1983: I'm not sure there are any useful historical parallels to 1983. There is no parallel to the 1995-2000 mania, other than 1925-1929. But post-1929 isn't at all like post-2000, the world is completely different. I am sceptical of the government's ability to accurately measure productivity, (or inflation, or other basic economic vital signs). The methods they use to derive these numbers, are absurdly complicated, often arbitrary, and change constantly. I think there are large and growing industries (like the entire health-care industry) where productivity is declining, and has been for many years. If there is productivity growth, it's concentrated in a few industries, very patchy, not a universal phenomenon.