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

To: Mike M2 who wrote (59050)	5/11/1999 1:23:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Mike, Thanks for that productivity/GDP/technolgy note. I've seen similar information before (in Barrons I believe). It was used as a bullish case for why this bull market and economic expansion can go on for quite some time. Basically almost everyone expects that technology will make up a progressively larger portion of the pie. So the deflation in technology as it improves will reduce the inflationary tendencies of easy credit by a greater and greater amount. My problems with this are twofold. Technology is notoriously cyclical. It assumes that easy credit doesn't distort the economy in other ways...a la the Austrians. Wayne