| | John S.
<<The business I'm in has picked up significantly across the board. We consider the recession over. We are typically the first down and the first to recover. I think you are squacking right as we are at the bottom. BTW, how long was Fleck a bear on Tech? Sooner or later even a blind squirrel finds a nut. To blame Bush for the current economy is a joke. These things lag by several years, so you might look at the last pres for your answer.>>
You wrote that back in February, nearly five months ago and there still is no sign of a tech recovery. In fact, tech prices, especially in the telcom area, have gotten much worse. Conditions in the overall tech sector continue to worsen. There was no bubble in the chemical sector in 2000 so it is entirely possible that DD can stage at least a feeble recovery while tech continues to decline. (I note that the stock has not advanced.) The housing sector has boomed while technology has tanked. It does not look like there will be any tech recovery this year because there is no demand. I don't blame Bush for the bubble because Greenspan and Clinton created it. But Bush's bellicose blathering and his willingness to threaten war with any nation that isn't in agreement with us, does not create the environment we need for a meaningful recovery. Meanwhile, Greenspan spent 18 months trying to prop up consumer spending, which was never a problem. The problem is a capital spending depression. Consumer debt remains at extremely bloated levels and if the consumer slows down here, watch out. If Fleck and Fred Hickey stay bearish on tech after a recovery commences, I will let you know. Until then, they rule. All the best, Phil |
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