To: Hawkmoon who wrote (2767 ) 12/28/2000 9:49:44 PM From: Zeev Hed Read Replies (4) | Respond to People have short memories, until the consumer confidence index drops back well under 100 (it used to hover for a long time in the 70), the consumer is still overconfident. I do not expect a recession, just getting back to the norm. It is only people that forgot to see when the time were good, playing musical chairs and hoping someone else will be left without a chair, the great majority of pension funds are in S&P 500 and similar index funds, and even then, at an allocation of 40% to 60%, not real pain out there in the country. That is why the confidence index is still above 120%, people have jobs, they command high pay, the few that lose their jobs can easily find new one. Unemployment is essentially at an all time low, why the panic? If the Fed's panic, then we'll have real trouble, because we will reignite that crazy horse the naz, and before you know it, JNPR and the like will be selling at $500/share...
