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Technology Stocks : CSCO - where's the bottom?!?!? Bear Thread
CSCO 77.42+4.6%Nov 13 3:59 PM EST
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To: Monty Lenard who wrote (15)11/11/2000 8:40:58 AM
From: Monty Lenard  Read Replies (1) of 253
 
Winners and Losers from the Depression:

Workers who kept their jobs, even with reduced hours, and financiers whose money was invested in bonds prospered during the Depression. Their nominal incomes in dollars dropped, but prices dropped even more: the baskets of goods they could buy increased. Farmers, workers who lost their jobs, and entrepreneurs who had bet their money on continued prosperity were the big losers of the Depression. Production was a third less than normal and the distribution of income had shifted toward those who kept steady employment or who had invested their financial wealth conservatively. As a result, at the nadir the standard of living of losers taken all together was perhaps half of what it had been in 1929.
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