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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (12441)	6/28/2009 3:54:35 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 33421

I know I've bene nattering on about that for ages.. And it's a great point you bring up.. We can't produce everything, because it's just not efficient. But we need to put ourselves back at the forefront of technical innovation that enhances economic productivity (and thus, profits). Message 25745221 What I fear is we'll become a financially driven economy, providing only financial services susceptible to manipulations and corruption. That's a recipe for disaster since money, unlike hard industry, is easily transferable to some other economic center. As John and yourself have clearly pointed out, much of this current situation is due more to squirrelly "financial innovations" that have no resemblance to the real physical economy. Credit Default Swaps.. Asset Backed securities.. hyped credit ratings.. etc. Hawk