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Technology Stocks : Ascend Communications (ASND)

ASND 212.55

+1.2%

Nov 28 12:59 PM EST

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To: Thomas M. who wrote (53282)	8/31/1998 12:53:00 PM
From: bucky89	Read Replies (4) of 61433

I'm saying the conditions in the 1990s mirror the 1920s. No, I do not think they do at all. In the 1920's you had the US recovering from WWI and the US economy looked a lot different from what it does today. 50% of the wealth was concentrated at the top 1% of the US population. This was the age of sweatshops and the like. Farmers were very poor. Ordinary people had nothing. The stock market boomed because the rich had money to buy stocks--totally different from today, where corporate securities are held by a broad cross-section of the general public. Loose monetary policy did not work in 1930's because people were in such dire straits and hoarded money. I see no general panic today, and if the economy slows down then lower interest rates will pick it back up again. If that doesn't work, then of course we can start deficit spending again. Come on, Thomas--the economy is not in danger of slowing down. This is what happened in the 1920's, and this is what you suggest will happen now. This market correction is caused by fears of weakness in overseas economies, not a slowing economy. It will pass. 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? I would say that whereas the "quantum leaps" back in the 1920's and before came about every 20 or so years, today the equivalent happens every year or so. The strong growth we've seen over the last two decades are driven by technology. bucky89

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