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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.00

-12.2%

Feb 12 3:59 PM EST

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To: michael97123 who wrote (46685)	1/10/2001 6:50:59 PM
From: chic_hearne	Read Replies (1) of 77400

hyper bull market and inflation at some level. Keep your gold in your sailboat and be ready. -ggg- What you are predicting here is economic armeggedon Seriously, I think easy Al will just keep cutting all the way to zero if he has to. I don't think there will be war or anything of the sort. To be clear why I think rate cuts will be ineffective, I think the stock market has BECOME our economy. No amount of cuts will reinflate it to keep the game going. Without a bull market, this economy has no choice but to collapse. In other words, the stock market (lead by the Naz) is what will cause the recession. Rate cuts may be good for businesses, but they won't help consumers. The consumer buying new cars and living a lavish lifestyle from tech stock gains, will rate cuts help them? What about old people planning for retirement? I know many that have drastically cut spending over the last 6 months because they are suddenly realizing that the early retirement on a big income isn't reality anymore. Of course this isn't enough to grind the economy to a complete halt, but I do believe it's enough to cause a recession. Ultimately, consumers drive our economy and I don't believe rate cuts are going to make them spend more. The only hope is reinflating the bubble, which will just make it worse later on when it goes. Easy Al has already let this go way too far. chic

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