Not true. I definitely buy what is available and the internet makes so much more available in terms of books and related items that I spend more.
Ray ----- Original Message ----- From: "Keith Hudson" <[EMAIL PROTECTED]> To: "Ray Evans Harrell" <[EMAIL PROTECTED]> Cc: <[EMAIL PROTECTED]> Sent: Tuesday, June 24, 2003 8:53 AM Subject: Re: No significant products (was Re: [Futurework] Fed running out of ammonition) > Just a different way of selling products that would have been sold anyway. > > KSH > > At 03:36 24/06/2003 -0400, you wrote: > >What about the products stimulated by the availability of the internet? > > > >REH > > > > > >----- Original Message ----- > >From: "Keith Hudson" <[EMAIL PROTECTED]> > >To: "Karen Watters Cole" <[EMAIL PROTECTED]> > >Cc: <[EMAIL PROTECTED]> > >Sent: Tuesday, June 24, 2003 2:51 AM > >Subject: No significant products (was Re: [Futurework] Fed running out of > >ammonition) > > > > > > > Hi Karen, > > > > > > You made a spelling mistake in your subject heading. Did you mean > > > "admonition" or "ammunition"? > > > > > > Either way, I think Greenspan has run out of both! It is clear to me that > > > he has absolutely no idea of what is going on -- and probably, in truth, > > > never did have -- neither has any other economist who holds forth in > >public > > > at the present time. > > > > > > I've recently become fascinated by one simple problem. There is a limited > > > amount of time in the day that's available to the average middle-class > > > person (that is, the person with spare spending power) to use any more > > > significant consumer products. By "significant" I mean (a) something that > > > is novel and exciting enough to displace the time that is already spent on > > > existing products, and (b) carry a big enough profit margin which will > > > stimulate spending power and investment and thus the economy. > > > > > > Where is this product? The irony of the IT bubble of 1990-2000 was that > > > although it absorbed massive spending power by way of "investments", its > > > typical products were pretty minor -- PCs. MP3s, Playstations and mobile > > > phones -- relatively lowly priced and, at present, with vanishingly small > > > profit margins. > > > > > > Just think of what the all middle-class and most working class consumers > > > have been able to achieve during the last century. They have been able to > > > buy or rent a satisfactory home, they have bought one or more family cars > > > (and don't have enough family members to need to buy any more now), they > > > have been able to fill their homes with gadgets, and they have more than > > > enough entertainments, both at home or at local events. Just what is > > > supposed to come along which is going to fill our lives with extra > > > excitement and joy? > > > > > > I think we're seeing the end of rampant consumerism. And the sooner that > > > economists (and politicians) put that into their pipe and smoke it, the > > > quicker we'll have a better idea of where we're going. > > > > > > Keith Hudson > > > > > > > > > At 08:01 23/06/2003 -0700, you wrote: > > > > > > > > > > >Ammo low, Fed eyes last bullet to lift economy > > > > > > > > > > > > > > > >Federal Reserve's expected interest-rate cut this week may add modest > > > >stimulus but is not without risks. > > > > > > > >By Ron Scherer | Staff writer of The Christian Science Monitor, June 23, > > > >2003 edition > > > > > > > > > > > > > > > >NEW YORK - For the past 2-1/2 years, the Federal Reserve has lowered > > > >interest rates to stimulate the economy. The result has been a virtual > > > >gully washer of money in the economy. But now, as the Fed contemplates > >yet > > > >a 13h cut, it has become much more difficult and complicated to pump up > > > >the economy by lowering short-term interest rates. > > > > > > > > > > > >So, when the Fed meets Tuesday and Wednesday to review the economy and > > > >make a decision on interest-rate policy, it will have to consider why > >this > > > >rainstorm of cash hasn't done the job. > > > > > > > > > > > >If business won't build new factories at these low interest rates, will > > > >even lower rates make any difference? And, as interest rates get closer > >to > > > >zero, Fed chairman Alan Greenspan will have to ponder if he needs to keep > > > >some ammo in his pouch in case he needs it later this summer. > > > > > > > > > > > >"The Fed's decisions are becoming increasingly difficult," says Jon > > > >Blumenfeld, US Interest Rate Strategist at Commerzbank Securities in New > >York. > > > > > > > > > > > >Despite the difficulties, Fed-watchers expect Alan Greenspan and his > > > >fellow bankers will reduce rates yet again - probably by a quarter of a > > > >percent. But, a half a point is not out of the question. > > > > > > > > > ><http://www.csmonitor.com/2003/0623/p02s01-usec.html>http://www.csmonitor.c > >om/2003/0623/p02s01-usec.<http://www.csmonitor.com/2003/0623/p02s01-usec.ht m > >l>html > > > > > > Keith Hudson, 6 Upper Camden Place, Bath, England > > > > > > _______________________________________________ > > > Futurework mailing list > > > [EMAIL PROTECTED] > > > http://scribe.uwaterloo.ca/mailman/listinfo/futurework > > > > > Keith Hudson, 6 Upper Camden Place, Bath, England > _______________________________________________ Futurework mailing list [EMAIL PROTECTED] http://scribe.uwaterloo.ca/mailman/listinfo/futurework
