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Non-Tech : Tyco International Limited (TYC)
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To: JDN who wrote (1740)3/2/2000 12:42:00 PM
From: Chuzzlewit  Read Replies (2) of 3770
 
Exactly!

Let's not forget that TYC is a capital equipment company with heavy emphasis in construction. Increasing interest rates puts a damper on such projects. The stock prices of the industrial sector have already reacted to these hikes.

The perversity in all of this is that there is little real evidence of inflation (other than oil-induced), and Greenspan seems to be targeting the "wealth-effect", and this is due almost entirely to the tech sector which seems to be impervious to interest rate fears.

The ultimate irony, of course, is that technology is responsible for the increase in productivity which has held inflation in check for much of the expansion. If the old brick and mortar companies cut back their technology purchases could we be setting the stage for real inflation because increases in productivity will be dampened in the industrial sector?

TTFN,
CTC
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