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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.03

+0.8%

Nov 14 9:30 AM EST

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To: Stock Farmer who wrote (54994)	9/6/2001 4:08:39 PM
From: Eric	Read Replies (1) of 77399

Hi John Going off topic here but here goes. I actually agree with much of what Mindmeld says. You have raised some good points but I'll toss out my "opinon" for thought. The problem in Japan is people are not spending as much as they did a number of years ago adjusted for inflation. You can have infinite savings but if people in the net net slow down spending because of fear (ala the 1930's) you can precipitate a crash. Japan could have all the savings in the world and it wouldn't save them! We have fear here which is healthy, the sad thing is a lot of decisions made by people at this point are going to be wrong if fear makes them do something. I've heard that the "average American" has $8000 of credit (or to be more precise, revolving debt) to mean really nothing. We have to adjust that for inflation and then in the net net it is only very slightly higher than that form of debt in the 50's. The last time I looked at government statistics peoples actual equity to debt in their home mortgauges was better than it was in the 50's also. Sorry if I have been rambling on but just having a lot of savings doesn't mean anything in the short run. Japan's system is highly leveraged. It is unfortunate that their "Fed" and government legislature has put them into this box. We learned a lot of things in the 30's....are we perfect....no, but I think we are doing a much better job than they are. regards, Eric

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