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Technology Stocks : Intel Corporation (INTC)
INTC 35.40-0.4%10:41 AM EST
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To: GVTucker who wrote (98091)2/3/2000 6:55:00 AM
From: nihil  Read Replies (2) of 186894
 
It is useless to use monetary policy to resist rising prices of commodities which are determined in world markets. The US produces little oil, and higher interest rates will merely reduce exploration and development of domestic oil. The US produces no nickle and little aluminum ore. Higher interest rates will have no effect on moderating high mineral prices. Jst the reverse. Commodity prices are rising because of the Asian recovery and European improvements.
The real boom in the United States is in technology. Semiconductors, communications, medical and pharmaceuticals are growing rapidly. Increased interest rates will merely restrict expansion and prevent prices from falling. For example, Intel plans to spend five billion on new fabs and cut Celeron production costs by 20 per cent and Pentium III costs by 50 per cent. This means much higher margins or lower prices (or both). It would be a disastrous mistake to kill off this domestic boom when the world economy is beginning a coordinated expansion. This economy needs time and people to grow. We need to admit additional highly educated or skillable immigrants, especially from Asia. There are 10's of thousands of migrant technologists who are not at all sure they can immigrate because of the inept, slow, incompetent INS. Mr. Clinton, knock down this wall!
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