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Strategies & Market Trends : The New Economy and its Winners

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To: Lizzie Tudor who wrote (21463)	7/23/2004 7:30:49 PM
From: Oeconomicus	Read Replies (1) of 57684

a grueling bear market. The S&P was up over 25% last year and the Nasdaq did much better than that. Maybe no one's told you, but that's not a bear market. Your statistics come from the same people who gave us an 8% GDP with "the strongest economy in 20 years" <wink wink> Yes, when confronted with facts, deny them. I predicted you'd respond that way. Message 20337485 As for the tech sector never recovering, heres the problem. We (the US) GAVE AWAY our manufacturing sectors in order to focus on the new economy. So, if the new economy never recovers as you are implying, we are screwed as an economy. Back to the 70s we go. I didn't say the "tech sector" would never recover - much of it IS recovering. I DID say many of the high-flyers that benefited from bubble valuations and bubble (i.e. unsustainable) tech spending by other bubble-driven companies would never recover. Then there's the part of the so-called "new economy" that was no more than a bunch of hot money following the latest dot con scheme that deserved to die.

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