----- Original Message -----
From: "Rob Schaap" <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Tuesday, June 05, 2001 6:26 PM
Subject: [PEN-L:12775] Re: US productivity shows steepest fall since
1993
> Of course, none of this matters a jot to the markets. They're
efficiently
> signalling nothing but blue sky today - the Hand as unseeing as it
is
> invisible.
>
> Funny; if technology really is responsible for rising productivity,
it makes
> sense to drop rates again, so that capital investment might be
resuscitated,
> and productivity thus rejuvenated. But the monetarist's way to
combat high
> wages in times of decreasing productivity and upcoming tax cuts
should be to
> hike interest rates, no?
>
> Wouldn't be Greenspan for quids ...
>
> Cheers,
> Rob.
=============
I'm always fascinated by the absence of naming slow sales as the
culprit for lagging productivity. If no one's biting on the product,
workers can't help but slow down on the jobs/sales that are still in
the pipeline. Sales teams get boom tired too.
Ian
