I know what you mean, it's sad and it didn't have to happen, and can't believe people are not all over Greenspam for blowing it big time. Here read this, Scotty has it right.
<<Sun's McNealy on Economy, Taxes, Privacy, Microsoft: Comment
Washington, Feb. 8 (Bloomberg) -- Following are comments from Sun Microsystems Inc. Chief Executive Scott McNealy on the economy, Republican President George W. Bush's proposed tax cut, Internet privacy and the Microsoft Corp. trial. His comments were made during a speech at the National Press Club.
On interest rates:
``There are only two causes of inflation, one is energy costs rising and the other is interest rates rising. And what do we do? As soon as we see energy costs rise, let's raise interest rates.
``They're still way too high, interest rates are. And that may be the biggest cause of inflation. I just don't understand Fed policy,'' he said.
``We have the opportunity for the biggest infrastructure build out that will continue the American competitive advantage,'' he said. ``We're delaying a huge rollout of the wireless and broadband infrastructure build out because the cost of capital is just too high, and unnecessarily too high because inflation is not a problem.''
On the Bush tax plan:
``We better lower interest rates, figure out an energy policy and we better support President Bush's goal of reducing taxes. The government is too big, it's very inefficient, it's just too porky. We don't have a surplus. We have an overcharge. We need to get discretionary spending back into hands of individuals.''
On privacy:
``Absolute privacy is not good. The online environment is actually a way safer environment because you can encrypt things,'' he said.
``There's absolutely no way at the speed of Congress that government legislation can keep up with all of the nuances of online information.
``I'm a little nervous about legislation, but I also don't want the states running around and have each state generate a different set of rules.''
On the Microsoft trial:
McNealy said he wasn't opposed to a settlement with Microsoft as long as they ``put consumer choice and innovation back into the system.''
He said Microsoft ``slowed down the Internet, big time'' by dragging its feet developing software. ``We moved at the speed of Redmond. It has clobbered innovation.'' |
