Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: rocklobster who wrote (34781)	2/28/2002 8:56:24 PM
From: Dave Gore	of 99280

Rok, turns out they are now not sure we ever WERE in a recession. We never did have 2 consecutive qtrs. of neg. growth. The so-called experts are baffled and are of little help in giving advice anyone can trust. They are too busy looking at past patterns. It's obvious to me we had a corporate recession only because too many companies bought too much stuff in the late 90's because they thought the economy was going to the moon in the internet heyday period. Working off inventories and waiting for the next technology replacement cycle has been very slow and difficult. Tech was especially hard hit by all the used equipment that flooded the market when the Internet jokes busted apart. But we're slowly getting there. Supposedly Intel has gotten their inventory down to 1995 levels. Meanwhile the consumer has been buying away thanks to the low interest rates and money in their pocket from good jobs and refinancing/pulling equity out of their house. We all should have just bought a basket of retail stocks a year ago and called it a year.

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