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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (30837)	8/11/1998 5:18:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

To All, All the news that is shi_ to print: 1. Productivity grew negatively in the second quarter. I'm not talking a slower growth rate, which it has been doing forever, but an actual down .2% annually. Some of this has to do with the GM strike, but most of it has to do with a lack of productivity-enhancing investments in the asset bubble economy. 1997 was revised down from 1.7% to 1.4%. Folks, it is fun to print money and buy back stock and play games with mergers and acquisitions. However, those things are like hamsters running in a cage. They do nothing for productivity. And, it seems, neither does all the money wasted on high tech crapola. Some high tech investments were and are, of course, productivity enhancing, but most of the money is burnt on golly gee stuff. We should also keep in mind that the productivity series greatly overstates the contribution of technological advances to productivity, so the real world is probably in even worse shape than these numbers show. 2. Samsung is starting full-scale production of 64 Mbit Rambus chips, operating at nearly 1000 Mhz. Wow, that sounds like they are even faster than the PC 100 chips. <G> They expect to run at 100,000 a month initially growing to 1,000,000 a month next year. Did somebody forget to tell the world's largest DRAM company that they were cutting back production? Get with the program, Samsung Blue, Everybody's Got One. <G> 3. Am I the only one overjoyed at Citicorp's price action lately? This bowwow was at $182 recently. Man, the suckers never learn. 4. The XAL is starting to act like just another lousy index now. It is still going down, but it is no longer earning my most valuable player award. 5. Ciena was up today? Yes, I only have a third of puts left, but if you can't get a dip on a down 112 day in the Dow, you have to cuss a little bit. Good Luck, MB