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To: pbull who wrote (7691)	12/18/2000 9:20:16 PM
From: Walter Xie	Read Replies (1) \| Respond to of 13572

I think those pro analysts who said that Fed should only move to neutral Tue just for the sake of maintaining its credibility or defying political pressure are themselves politicians. Few seem to think the situation is really bad after the bubble broke. They should be fired so they can pursue a political career. They have lost touch with reality. I have a groundup view of the current situation which suggests that the US high-tech industry is in danger. I have some connections in Silicon Valley. A few guys from CSCO revealed that their jobs only require a couple of hours each day to fulfill for the past year. For instance, one guy only wrote several hundreds of lines of codes during the past six months. What did they do for the rest of the hours? You bet, they played stocks behind their cubic. And most of them held big bags now. From what I learned, I believe high tech workers are among those who incurred the heaviest loss in the market this past year. With worthless options in hand and sky high monthly mortgage payment, don't wait for long before they get demoraled. Now dot.coms have hopelessly busted, the shovel makers might be very likely on their way no return. What next? I'm now afraid that high tech centers will likely to move from US to Asia and Europe when next cycle comes for many reasons, just like cars, appliances... Americans might be too confident about ourselves. Let's see.