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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.03

+0.8%

Nov 14 9:30 AM EST

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To: kvkkc1 who wrote (48513)	2/8/2001 10:06:21 AM
From: Steve	Read Replies (1) of 77399

Do you have any idea what you're talking about? Inflation rose from around 2% in the 3rd quarter 1998 to over 4% in early 2000 before the Fed's 175 basis point increase slowed this very rapid rise in inflation. The deterioration in economic activity that was very rapid from the 3rd quarter 2000 to early January was the re-emergence of the dormant business cycle. We are now experiencing an inventory draw down but it should be much briefer than prior inventory corrections because just in time provisioning across the supply chain has reduced overstocking. Feedback in the economy today is much more rapid and as a result the economy will likely heal itself very rapidly. Greenspan is the favorite whipping boy of the ignorant and misguided.

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