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

AMZN 248.41

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Nov 10 3:59 PM EST

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To: Mark Fowler who wrote (122388)	4/7/2001 2:10:23 PM
From: GST	Read Replies (2) of 164684

Mark: I would like to highlight some of the text from the article you posted. I am sorry you are not posting more here, as I cannot respond to you on the new economy thread. "America's asset bubble is visible in its economy as well as its stock market. The rise in wealth and the fall in the cost of capital, has reduced household savings to nothing and raised investment sharply. The result has been that the US private sector is running a financial deficit of more than 6% of GPD, compared with its normal surplus. To finance this, private sector debt has risen by 65% in five years. This imbalance justifies the plan for a tax cut. A sharp rise in household savings, threatens a major fall in demand. A tax cut would ease this. Governor Greenspan's support is thus justified in today's circumstances. But he can be criticised for allowing such dangerous circumstances to arise. Without the Wall Street bubble, the collapse of household savings would not have happened. Not only is it obvious that such an excessive debt build up cannot last, it is equally clear that the longer it continues, the greater will be the problems that it creates." prudentbear.com

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