That's about it, folks - or at least what I got out of it. Perhaps it's not terribly logical. We still have strong consumer demand and low interest rates. Yet we have a rising unemployment level, which suggests an over slowing in economic growth.

Mr. Greenspan's answer is that technological advances will increase profit margins without raising prices. Increased consumer and corporate spending will then follow and our recession will be over.

Who knows? I usually write a mortgage column. If we come back to earth I can tell you that a $200,000 loan at eight percent will cost you $1,468 per month. The same loan, at 6.75 percent will cost you $1,297 per month. That's a difference of $171 per month, or $2,052 per year, or $61,560 over 30 years. It adds up. These economic theories and predictions are fine and dandy but all I know is that if the cost to buy your house is $171 cheaper per month, that may be the deciding factor for a renter to become a homeowner. Or if an existing homeowner can trim his mortgage payment by $171 per month, that money will probably go right back into the economy.