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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 75.19-0.1%Jan 16 9:30 AM EST
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To: RetiredNow who wrote (59123)4/26/2002 11:15:35 PM
From: Victor Lazlo  Read Replies (3) of 77400
 
One of the problems with this recession is that a ton of good-paying white collar jobs were wiped out. And they're not coming back.

Lots of laid off people are having to take jobs at lower pay than they received before. And those who still have their jobs can expect lower or no bonuses, stock options etc.

I believe it was the consumers' anticpation of future juicy pay increases and bonuses that helped fuel retail spending in recent years. But now consumer spending is continuing without the hope of those future hefty pay increases and bonuses.

And the average consumer is getting furhter and further exended on credit. This is a debt bubble that will burst sooner or later, because the economic recovery is here, believe it or not.

There's no economic recovery rainbow around the corner. This is it. It likely will not get much better than this.
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