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Politics : Ask Michael Burke
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To: re3 who wrote (90704)4/21/2001 10:04:12 PM
From: Knighty Tin  Read Replies (1) of 132070
 
Ike, I kind of agree with the writer's analysis, this was a trash tech recession, but think he has overlooked the fact that it was phony tech co. growth reporting, by an overly touty govt., that made the GDP grow for the past 5 years. The hedonistic crapola was a huge factor in the GDP #s and now that the Ponzi scheme has toppled, there won't be that number to fake the GDP growth. My guess is slow, very slow growth. But recession for the entire economy is certainly possible.

Right now, this is looking more and more like 1972. The small cap growth names have been slaughtered, deservedly so. But those who owned the indices have not gotten hurt that badly and are still spending. 1973 and 1974 destroyed that lifestyle, which was based upon the nifty-fifty rising forever.
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