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To: ed who wrote (8673)	11/7/1997 4:28:00 PM
From: Dr. Doktor	Read Replies (2) \| Respond to of 97611

ed, Thanks for your response but I did'nt say we had INFLATION. I said we had new INFLATION WORRIES as in a tight labor market and rising wages leading people to worry about possible increase in interest rates by the Fed. I agree with you, I don't think it will happen but I believe the worry helped to fuel the selloff in stocks today. Thanks again for your response. BTW, how did you come to the conclusion that Greenspan has thoughts of decreasing rates or is this speculation? Regards, DOK

To: ed who wrote (8673)	11/7/1997 5:32:00 PM
From: hpeace	Read Replies (1) \| Respond to of 97611

ed....yes it's obvious DR-DR is not eco Dr.. but guess what. In addition to the relationship of unemployement and inflation being overridden the last years.(lower unemp tends to casue inflation pressure)I forgot the guy credited with this study but his work is being obsoleted since unemployement is dropping for yrs and so is inflation. I think that productivity, technology advances,changing from industrial skills to information skills and mfg'ers just can't raise prices are overriding the relationship. The law of all resources and goods are scarce is also being transcended by the fact that no resource or good is scarce given technology. My PhD work was on this 27 yrs ago.. It was a real eye opener then but now i think someone has made the theory famous... I didn't finish my PhD. i see in this post you did mention waht I brought out in my last post to you. you said "Another factor you did not consider in your equation is the currency effect. US imported lot of consumer products from Asia, cloths, consumer electronics, DRAM, SRAM ..... etc, you name it, this will further reduce the inflation pressure in US. So I think our currency is the most over valued currency , fortunately, our productivity was increased significantly in the past 10 years to back up the currency, because the unit cost of product was reduced as a result of productivity increased, eventhough the wage of wokers are increased." You also said this" This is why I always said high tech is the key for propersity, The high Tech industry will lead the world well into the 20th centry, a world of propersity and continuous economy growth and low or even no inflation." Did you read my paper????