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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 227.90+0.4%Dec 9 3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (120809)3/18/2001 11:50:47 PM
From: Bill Harmond  Read Replies (2) of 164684
 
Layoffs are terrible for the ones losing work, and there are indeed negative network effects, but there must be synchronized unemployment across many sectors for the economy to falter.

The broad economy is doing really well, in part because fiscal policy in the US has been conservative and surpluses have developed. Credit is cheaper. Imports are cheaper. Government is spending surpluses on major infrastructure improvements. If you live in Los Angeles (and imagine anywhere else in California) Caltrans is widening freeways here 24/7. The spending is in the billions. Those are a lot of young workers buying cars (probably trucks!) and houses.

The defense build hasn't even started yet.
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