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Technology Stocks : All About Sun Microsystems

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To: Charles Tutt who wrote (30958)	4/16/2000 5:10:00 PM
From: fuzzymath	Read Replies (2) of 64865

You don't need too many people that foolish in order to have a very bad effect on the economy. They lose all their money (yes, on the dot.com's not boring established companies), then we have a recession, then they lose their houses, etc. I don't know how many people fit this description either. But, whatever the number, their sudden poverty will exacerbate any recessionary fallout from this drop. Not that I think the drop thus far will cause a recession. But, if we see a NASDAQ at 2000 this week, then I think we'll have a loss of wealth problem. Remember, people have been spending more than they've been earning for about 2 years now, based on a sense of "We're rich, look how much money we've made in the stock market!". Wipe out the wealth (and turn it into debt for some), and consumer spending is going to turn sharply downward. The Fed will be happy (I guess) to see our employment market loosen up -- but I won't be happy. I have kids I have to put through college. I need economic growth to continue... Kevin

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