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To: smolejv@gmx.net who wrote (46107)	2/12/2004 9:14:08 AM
From: Ramsey Su	Read Replies (2) \| Respond to of 74559

DJ, I want to ask Greenspan a question. May be he is a lurker here and would like to respond. If US companies ship all the jobs that can be outsourced overseas, would our productivity sky rocket? Ramsey

To: smolejv@gmx.net who wrote (46107)	2/12/2004 10:37:04 AM
From: Joe S Pack	Respond to of 74559

DJ, I look at the productivity as a quotient of GDP (goods produced) and Employment (hours worked). Given both (forward-looking) numbers will end up with an error of X%, then the quotient can unexorably expect a bar, double that. The fun part is AG discussing the influence of the result (productivity) on the employment (divisor). Not to mention hedonic adjustments of GDP... In this Alice's world of FED and J6P, where any fool can control the throttle of the printing press as long as he keeps mumbling something that pleases the crowd. By his Orwellian logic, if X(productivity) = Y (Goods)/Z(Employment- Hours worked) then Z = Y/X, but for him Z = Y * X. There is no cause and effect here, all variables are independent of offshoring, automation, pro-forma and off-the book accounting. As long as those clowns in the House are impressed by such a snake oil job, why not?