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Technology Stocks : Wind River going up, up, up!
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To: Allen Benn who wrote (9381)4/2/2001 9:48:55 AM
From: Lee  Read Replies (1) of 10309
 
Allen,

I agree that aggressive tax action is required to help the consumer. However, I am not as confident that economic activity will be met with consumer spending. On the contrary, I think consumers that have lost $4 trillion in equity wealth while splurging on consumer items such that we have a year or more of a negative savings rate will now start to save. If we save just 5% of our income (vs 15% by historic standards) that will take 3.5% from GDP.

Lee
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