He caused it all to happen W. Why do think earnings are coming down? Rates are higher. Why do think telecom spending is slowing? Rates are higher. Not only is he removing the current drive to increase efficiency, he is setting a weaker foundation (slow roll out of broadband) for future high-tech driven efficiency. He is playing market god and deciding who was going to survive, by not letting new the ideas get old enough to prove the model would of work. For the B2C sector to have flourished you needed many players, he is reducing it to the old economy players. Also, he is removing the very competition that is needed to hold down prices. I contend that the market would of removed the dot-coms that didn't make sense by now on it's own. It was too soon to remove the money like the Fed did, they never had change to evolve at Internet speed. It's call a market based economy that is left to it's own devices. He knew that at one time, for some reason he has forgotten it.
Remember, the NET was new, it was refreshing, we where traveling at net speed, now we are traveling slow so the old economy can drag the new one down and assimilated it! Where has all the promise gone? The speed of change? Right down the FED's toilet. Look around, do you see the speed of innovation happen like it once was? No, you are seeing dreams dash or still born, by not getting funded. I say the FED will go down as the killer of the new economy.
You want to know what could be worse? GORE, the dem.'s drive to tax the rich and give to the poor. You watch. If Gore become pres., they will TAX the net.
Greg |
