Not exactly, the "Corp" recession was "supposed" to be a result of three factors, over capacity, thus slashing of Capex. Excess inventories, thus slashing buying inventories from other corporations, and cost of money that was rising (in 2000). September 11 may have changed that scenario, however the current fiscal and monetary stimulus may delay the denouement of consumer slashing spending, thus their is still an outside possibility that scenario will stand. The consumer recession, if you remember, was to be precipitated, by tightening of liquidity later next year, which would have halted the refinancing binge, caused consumers to increase savings, and reduce consumer spending due to mild increase in unemployment due to the first dip.
Zeev |
