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Technology Stocks : Wind River going up, up, up!
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To: Allen Benn who wrote (9342)3/20/2001 1:50:43 PM
From: Pirah Naman  Read Replies (1) of 10309
 
Allen:

Good to see you back. I agree with much of what you wrote here, but a couple of points merit additional comment. Fiscal policy certainly has played a role in the NASDAQ crash, but it likewise played a role in the previous NASDAQ "anti-crash." Instead of material asset inflation, we had financial asset inflation, with the Fed voicing concerns but silently pumping extra money into the system. Because of this, peak to trough (or vice versa) can be misleading. I agree with you that we will see the corrections go too far.

Also, while as you say the Clinton administration did not have an adequate energy policy, neither has any previous administration, at least in recent years, and the Bush administration gives every indication of continuing the trend. Maybe politicians and good energy policy don't mix.

I'm betting on the 50 basis points as well.

- Pirah
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