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To: Wyätt Gwyön who wrote (16826)	2/6/2004 12:14:20 PM
From: Elroy Jetson	Respond to of 306849

Don't forget how Greenspan has "bogused-up" reported productivity and GDP by under-counting inflation. As you know, the current economic statistics are close to meaningless. We need someone to put the Fed back on track. Then I can bring my money back home from Australia. Capital goes where it's respected, and it's being treated like dirt here. It's just like the decline of Britain in the 1970's. The government told lies of prosperity while the wealthy sent their money offshore to avoid losing everything in a sinking currency.

To: Wyätt Gwyön who wrote (16826)	2/6/2004 1:05:14 PM
From: Elroy Jetson	Respond to of 306849

Thank you for sharing this information from the latest ContraryInvestor with me. This clearly explains the massive reduction in Aggregate Demand in the U.S. economy and why businesses are afraid to invest here. Average Wages In Growing Industries vs. Contracting Industries (November 2001- November 2003) TOTAL US AVERAGE $35,410 average wage in expanding industries $44,570 average wage in contracting industries (21)% decline in wages The first number for each state is average salary in growing industries; the second figure is average salary in contracting industries; the third figure is the percentage difference. Only Nebraska and Nevada show higher salaries in growing industries than contracting industries. New England Maine $27,963 $37,364 (25)% New Hampshire 29,559 45,750 (35) Vermont 29,070 40,976 (29) Massachusetts 34,640 58,759 (41) Rhode Island 26,115 39,483 (34) Connecticut 36,300 54,136 (33) Middle Atlantic New York 34,081 54,537 (38) New Jersey 34,401 55,952 (39) Pennsylvania 31,055 40,175 (23) East North Central Ohio 29,418 41,287 (29) Indiana 28,008 38,381 (27) Illinois 30,879 46,533 (34) Michigan 36,477 49,397 (26) Wisconsin 31,343 38,553 (19) West North Central Minnesota 29,780 42,135 (29) Iowa 29,073 35,931 (19) Missouri 30,059 40,223 (25) N. Dakota 23,640 30,450 (22) S. Dakota 22,561 30,362 (26) Nebraska 32,289 30,952 4 Kansas 30,284 41,185 (26) South Atlantic Delaware 28,407 49,609 (43) Maryland 32,535 48,008 (32) Dist. Of Columbia 42,413 62,721 (32) Virginia 29,375 46,323 (37) W. Virginia 22,805 33,832 (33) N. Carolina 33,926 38,041 (11) S. Carolina 31,012 36,986 (16) Georgia 34,418 44,481 (23) Florida 29,979 35,353 (15) East South Central Kentucky 29,035 37,371 (22) Tennessee 31,844 36,881 (14) Alabama 28,584 36,577 (22) Mississippi 26,764 30,638 (13) West South Central Arkansas 27,256 31,869 (14) Louisiana 26,408 39,550 (33) Oklahoma 25,259 35,917 (30) Texas 31,663 48,751 (35) Mountain Montana 22,698 32,001 (29) Idaho 29.593 34,188 (13) Wyoming 25,161 41,819 (40) Colorado 33,223 50,914 (35) New Mexico 27,784 36,122 (23) Arizona 32,937 46,415 (29) Utah 30,454 36,563 (17) Nevada 37,857 34,866 9 Pacific Washington 36,838 52,351 (30) Oregon 29,964 40,991 (27) California 34,742 57,800 (40) Alaska 35,969 58,420 (38) Hawaii 33,328 35,557 (6)

To: Wyätt Gwyön who wrote (16826)	2/6/2004 2:32:52 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

you got it, good for you I also think GDP is just plain wrong, I think it is too difficult to gauge how much of a US companies' output is really done in the US with all this offshoring. The statistics seem like they are taking goods from Applied Materials, where you have 3 US managers and 50 offshore- and allocating the entire product to the US.