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Politics : Ask Michael Burke
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To: Jess Beltz who wrote (41125)12/28/1998 12:19:00 PM
From: Knighty Tin  Read Replies (2) of 132070
 
Jess, You assume that money grows on trees. It does not. Corps and govts will have to spend billions fixing code for Y2K. That money will come out of their IT budgets, which is where new pcs are bought. In other words, I think few are going to be enticed to buy new pieces of junk until they get the old pieces of junk fixed.

I see that Greenspan has you snookered, too. The good news is, all you have to do is read Greenspan's comments about what caused the Great Depression to realize he is behaving exactly like the folks he once criticized. Of course inflation is huge. It is asset inflation, not goods inflation. And Greenspan just makes it worse.

One can be a contrarian all the time. Techs will again see a bottom and I will again buy them there. Until then, I will avoid these hiccups based upon Xams lies and even buy puts on some of the sillier ones.

Good Luck,

MB
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