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Technology Stocks : Intel Corporation (INTC)
INTC 46.96-2.8%Jan 16 9:30 AM EST
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To: Road Walker who wrote (176252)12/24/2003 2:01:06 PM
From: Lizzie Tudor  Read Replies (2) of 186894
 
It's interesting to see the hand wringing over the loss of technology jobs to off shore. I don't remember the same angst over the loss of textile manufacturing jobs, which has been going on for years.

The difference was that the textile industry loss didn't drain so much from the economy that any recovery refused to happen. Other industries popped up to replace the textile industry fairly quickly. In the case of this "white collar" jobs exodus (which is not limited to technology at all)- we can't seem to get out of this economic funk. As you know this recession ended in 01. We have strong GDP now (a number which is pretty far offbase and probably counting foreign GDP based on US firms as our own imho) but a sluggish retail xmas season. There has never been a "job loss" recovery like this one before, to my knowledge. The white house economists have predicted a fairly anemic 150K job creation next year, in what is supposed to be an "economic boom"- personally I doubt this job creation happens- or more accurately I am sure it will happen in spades, just not in the US.

to me this is not a real recovery-
Orders for Durable Goods Dropped 3.1% in November
DOW JONES NEWSWIRES
WASHINGTON—Durable-goods orders unexpectedly fell for the first time in three months in November amid a plunge in orders for computers, communications equipment and aircraft.
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