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Technology Stocks : Ascend Communications (ASND)

ASND 212.33

+1.1%

Nov 28 9:30 AM EST

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To: bucky89 who wrote (53247)	8/31/1998 11:54:00 AM
From: Thomas M.	Read Replies (1) of 61433

You are changing the subject to policy decisions made after the 1929 crash, which exacerbated the Depression. Originally you were talking about the characteristics of the boom period, saying that such a boom have not spawned a big bear market. I'm saying the conditions in the 1990s mirror the 1920s. Both booms were characterized by remarkably low inflation that confounded experts, low unemployment, low interest rates, and tremendous corporate profit growth. Notably, both booms were preceded by a strong inflationary period. BTW, the Fed did cut monetary policy loose after its initial mistake of tightening. Just like in Japan in the 1990s, no amount of money printing by the Fed was enough too get money supply to expand. Regarding productivity growth, you are mistaken. Today's benefit might be the word processor vs. the typewriter. The improvement of the 1920s was a little thing called electricity. Which would you call a quantum leap? Tom

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