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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 77.99

-0.2%

3:59 PM EST

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To: Jacob Snyder who wrote (48698)	2/9/2001 3:36:59 PM
From: SouthFloridaGuy	Read Replies (1) of 77400

That is seriously the most asinine argument I have ever seen. First of all, companies are NOT growing earnings, this is why the market is falling and companies are being downgraded. <So, high debt levels will not be a problem, unless we see inflation (which would raise interest rates) and/or high unemployment. No duh! That is how this country has survived the last 5 years. You are espousing the whole argument of the bears because you are admitting that the "party" can continue with low unemployment/wage growth. But recent figures have shown a fast deterioration. But WHY, dear Jacob did the economy fall in a mere two quarters so fast... The reason, oh dear Jacob, is that exactly the things you are saying are not happening are indeed happening. Unemployment is rising as evidenced by the massive layoffs occuring and thus consumers are showing the first signs of strain (the official figures are LAGGING figures so don't throw the 4.2% at me) - THIS IS WHY THE DEFAULT RATE is higher now than it has been since the 91 recession. You see, Dear Jacob, what is happening is most likened to a Domino affect. It's the same domino affect that killed Japan even with 0% interest rates. It's an inescapable domino affect. The only way this country will get back to being a healthy economy is by essentially flushing out the excesses instead of trying to push string. Anyway, you'll never see 0% interest rates in this country because the savings rate is -0.2%. This country is simply not prepared for the type of downfall that is looking like it will occur and will either undergo serious inflation during the reinflation process or very anemic growth for many years to come.

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