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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (4473)8/13/2002 11:44:37 PM
From: t2  Read Replies (2) of 89467
 
you are stuck in the conventional cycle thinking
this is not a typical business cycle
it is a structural correction in the debt, currency, and capacity world
corporate profit potential is just as shitty now as last year

OK..but there has to be some effect on the markets. I guess your argument then is that the lower PE stocks won't remain at current valuation. For instance, most of the large Dow companies have debt...and that debt component will start to affect profitability...leading to increases in PEs and/or losses. A reduction in revenue also associated with it.

As for tech, even though there is little debt with many nasdaq names, they are already very overvalued and no growth.

FWIW-
Found this interesting but bearish post on semiconductors (Richard Palm on AMAT thread posted the IHUB link)

investorshub.com
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