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

To: Alias Shrugged who wrote (48232)	2/22/1999 11:23:00 PM
From: BGR	Respond to of 132070

Mike, True, it is only a partial truth (but truth nevertheless). However, deflation is not just being imported, a lot of it, particularly in the high tech industry is home made. Witness the collapse in the favorite whipping object of the DELL putters in this thread, box ASPs. The US economy is growing at around 4%, of which the technology sector (which specializes in deflation - Moore's law and all) is growing at 20% and in another 20 years or so will become the major part of the entire economy, while the rest is growing at around 1-1.5%. Given that, perhaps interest rates are not unjustified. I am waiting to hear Greenspan's H-H testimony tomorrow. -BGR.