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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 233.95

+0.3%

Dec 1 3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (121611)	3/25/2001 3:34:52 PM
From: GST	Read Replies (2) of 164684

"So it is very possible that we'll have a recession now, because there is a glut of everything." There is not a glut of everything. There is no glut in energy. That helped bring the house down. There is no glut of savings -- that is, as I tried hard to say before, THE core issue now. People put their cash-on-the-sidelines (savings) into stocks while running up their credit cards and emptying their bank accounts for many years. We imported foreign savings to make up the difference. But the same foreigners don't buy enough of our stuff to make up for slack domestic demand -- and it is largely slack cause we put all our eggs in one basket -- tech stocks with poor fundamentals. AG wants to teach us that something called "savings" must exist, and it is not to treated as "cash on the sidelines" waiting to go back into the stock market.

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