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Politics : Idea Of The Day
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To: GROUND ZERO™ who wrote (34118)10/3/2000 4:50:45 PM
From: Mao II  Read Replies (2) of 50167
 
M. Zero: While I agree this is a grinding decline, I take issue with your analogy to the 70s. Nothing comparable at all, really. The entire economic climate is different. Company fundamentals are different. Inflation, government spending, employment, profit growth, productivity -- you name it. As far as the market itself is concerned, the only correlation between now and the 1973-4 period is that share prices are declining. But you cannot have the kind of grinding long term bear market a la the 70s with the kind of broadbased investment that underpins the activities of short-term traders today. I am quite sure we are in a corrective phase within the long-running, post-70s bull market. Period. That said, 3000 looks like the basement. M2
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