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Politics : Clinton's Scandals: Is this corruption the worst ever?
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To: alan w who wrote (1165)8/15/1998 6:35:00 PM
From: Michael Sphar  Read Replies (2) of 13994
 
"Its the economy stupid", revisited

Lest anyone waste bytes with this trite saying again, I'd just like to point out that the DOW and all major indicators are in a serious tailspin, following major European indices which are diving in parallel though possibly of greater magnitude. "Its the economy stupid" won't play well in Russia, all of Asia, the Middle East and now most anywhere else. And guess what, here in Silicon Valley the engine of the US's technology sector is awash in the Asian contagion tsunami which is breaking over the left coast. Companies are slashing budgets, laying people off right and left, postponing spending plans and generally girding for a very severe and lasting downturn. East coasters would do well to pay heed.

Market timing advisors are blasting out their switch to money funds alerts and it'll only be a matter of time before this downturn is felt in everyone's portfolio. "Its the economy, stupid" will in time become seen as the latter day version of "its different this time" long after Clinton becomes a marginalized footnote in history immortalized as having presided during the Clinton erection correction. And as they say, more to come on that one...
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