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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 238.63-1.8%Feb 3 3:59 PM EST
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To: Victor Lazlo who wrote (146161)8/25/2002 11:17:53 PM
From: GST  Read Replies (1) of 164685
 
This last recession was triggered by rising energy prices and cascaded into capital spending, bursting the "new economy" bubble. The new economy types never like to admit that the growth in the economy in the late 90s was fueled by cheap money and cheap oil. AG misread the price of oil as he raised interest rates to head-off the dangers of an ever-larger stock market bubble. By the time it was clear that oil prices were not coming down, it was too late for AG to react. That was the time to sell -- the recession warning was ringing loud and clear. The new economy types scoffed at this idea, saying oil prices had nothing to do with the new economy. A few listened -- there was that polite guy who was formerly with MSFT and had his own software company -- he was smart -- he sold everything.
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