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Technology Stocks : Ascend Communications (ASND)
ASND 212.33+1.1%Nov 28 9:30 AM EST
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To: Joseph G. who wrote (53439)9/1/1998 11:05:00 AM
From: bucky89  Read Replies (2) of 61433
 
The REAL statistics (not out of your imagination) are:
in 1929, top 5% of households received 30% of income;
in 1950's, top 5% of households received 20% of income (lowest share in US)
presently, top 5% of households receive about 27% of income

note "household", most rich people do not make their wives and children starve.

My friend Joseph,

I found one web site which may help:

scruz.net

I am an regretably a poor keeper of statistics, and I was not alive in the 1920's so I can't tell you from personal experience. But my point remains the same: There were serious fundamental problems with the US economy during the 1920's which culminated in the Great Depression. I do not see any of those problems today. I strongly disagree that we are in a pre-depression period, which is what the original poster suggested. The only problem we see is overseas, and it remains to be seen how much it will impact the US. I strongly believe the US will ride it out and come out stronger.

The market crash of 1929 was caused by the economic problems, not vice-versa. Because the US economy is strong today, I believe the market will reflect this. It may take longer than a day or week for this correction to be over, but the market WILL bounce back unless something NEW comes up.

bucky89
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