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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (94983)4/16/2001 10:58:57 PM
From: Perspective  Read Replies (1) of 436258
 
How can you say "This looks nothing like 1929-1932 so far, except in tech." ?

Tech WAS the stock market last year. It was nearly half the capitalization of the S&P500 at one point. Tech IS repeating 1929 at this point, and it is by most measures as significant to the overall market and economy as the Dow was in 1929. There were days that single Naz100 stocks traded more clownbucks than the entire gross domestic product for the day.

Granted, the underlying businesses touch a much smaller portion of the economy than the Dow in 1929, but the financial market footprints are virtually the same size.

BC
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