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To: russwinter who wrote (14834)	7/26/2003 2:35:07 PM
From: Canuck Dave	Respond to of 39344

You got it. I would only add one other point about the unreal expectations of the the US consumer being met by this process. It's the dark side of the political motivation for keeping the bubble going. In 15 months, US citizens will be voting again. Will the process have collapsed by then? If it has, I dread what crises (or circuses) are dredged up to distract the populace. CD

To: russwinter who wrote (14834)	7/26/2003 10:20:49 PM
From: E. Charters	Respond to of 39344

I believe the proper succession of economies is hunter-gatheror, artisan, industrial, trade-colonial, advanced-artisan, industrial, wage-slave, government-service, financial, barter, hunter-gatheror. EC<:-}

To: russwinter who wrote (14834)	7/27/2003 10:17:39 PM
From: Silver Super Bull	Read Replies (1) \| Respond to of 39344

RW, Noland, in his piece, also quotes Greenspan as saying the following. Very interesting, to say the least: "“Is it important for an economy to have manufacturing? There is a big dispute on this issue. What is important is that economies create value, and whether value is created by taking raw materials and fabricating them into something consumers want, or value is created by various different services which consumers want, presumably should not make any significant difference so far as standards of living are concerned because the income, the capability to purchase goods is there. If there is no concern about access to foreign producers of manufactured goods, then I think you can argue it does not really matter whether or not you produce them or not.” prudentbear.com DB