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Technology Stocks : All About Sun Microsystems

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To: Steve Lee who wrote (47243)	2/6/2002 5:47:39 AM
From: Robert Scott	of 64865

I agree that real estate has risen alot and its growth is unsustainable. people will not be able to tap this asset for savings much longer. However, the savings are real and long lasting. I'm in the business and the vast majority of people are opting for fixed rate loans. Their savings will last as long as they own the home. Unemployment always rises after a recession. We are coming out of this recession with an incredibly low rate of unemployment - <6%. That was a rate we longed for 10 years ago even during an expansion! The defaults will rise but because the number of people losing jobs in relation to the total employed is rather low, the effect won't be as significant as it was in prior recessions. As far as my asset argument, it already factors in the market losses. Remember, it's only the Nasdaq that is down so significantly. Bernie Ebbers ran into trouble last year too - but I think he's an isolated figure. Most executives don't leverage their company stock because they get options. I'm certainly not Nero fiddling while the economy burns. I see some of what you are saying. I guess it's just a matter of degree. The economy is hurting, people have lost money and they aren't as rich as they were 2 years ago but most still have good jobs and have been able to save significant dollars through refinancing, oil cuts, and tax cuts - in short, they're not suffering but they're also not free spending either. Confidence needs to be shored up to be sure to keep this train rolling until the economy can start to hum on its own. The Democrats politicization of the stimulus bill is the kind of partisan action that will hurt our country - they are truely acting in their parties interest looking out to November - not the country's. I hope it backfires brutally and the Republicans take back the Senate.

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