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Actually I have no beef against Greenspan, but consider what is taking place in our economy.

* The Internet cuts material costs by greatly enhancing "just in time inventory."

* "Just in time inventory" reduces capital strain. Less capital statically tied, and rather dynamically available leads to "just in time capital."

* The Internet greatly enhances the ability to move from one job to another, creating "just in time personnel."

These three factors, "just in time inventory" , "just in time capital" , and "just in time personnel" feed on one another. The result is massive reductions of waste, or massive increases in efficiency.
This will take place for ten years on a global scale, in my opinion.

Where our economy needed a dollar to get the job done yesterday, it now needs say 95 cents. Where our economy needed 4 percent unemployment to create a transient work force, it now only needs say 3 percent.

Just thought I would express how happy I am to live now rather than any other time in history.

Foolishly Bob
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