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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (25044)	11/6/2002 7:17:20 AM
From: LLCF	Respond to of 74559

<Computers, telecommunications, and satellite technologies have enabled data and ideas--the ever more important elements of valued output--to be expeditiously transferred geographically to where they can be put to best use. Thus, these advanced means of communication have added much the same type of value that the railroads added in transporting the more-physical goods of an earlier century. > I like this part because as predicted right here on BBR and CFZ the investment boom in these technologies busted just like the railroads. <Here in the United States, we have developed an exceptionally sophisticated stock of capital assets--fostered by the most conceptual and intangible of all new products--software. Breakthroughs in all areas of technology--despite the recent slowdown--have been continually adding to the growing list of almost wholly conceptual elements in our economic output. These developments are affecting how we produce output and are demanding greater specialized knowledge. > It sure is nice for that got rich off the boom and sold out, but none of this babble is creating any profits, so in reality it's pretty meaninless to the economy except all the mal-investment during the boom times that now will be cleaned out.... regardless of the level of interest rates. Also predicted here [rate action won't stop the bust]. <In broad terms, the available empirical economic research has identified a complex of factors as key determinants of how successful any country will be in transforming its physical and human assets into economic growth: openness to trade, a strong institutional infrastructure, disciplined macroeconomic policies, and an effective system of education--formal or otherwise. > ROFLMAO!! He left out exploding credit bubble! THAT is what distinguishes us from ODC's as far as the economy is concerned over the past 10 years. Boy he sure is fun to read isn't he? Maybe he really IS insane. dAK