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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (45824)	1/3/2001 11:08:14 AM
From: chic_hearne	Read Replies (2) \| Respond to of 77400

I don't forsee a meltdown like the one you predict. Gary, I really don't know what to expect. I sure hope that the Naz can implode and do its thing without affecting the economy too much, but I'm not very optimistic. When a reckless administration allows the stock market to become the economy, it can only end badly. One thing that really worries me is the gains in productivity. I saw something about how 1 farmer now does what it took 17 farmers to do back in 1920's. It's the same with every other industry, some with bigger gains than others. When there's a slowdown in THIS economy, I expect consumers to really slow on spending except for the essentials such as food, shelter, and clothing. This isn't doom and gloom thinking, this is reality. 2 income homes may become 1 income, no gains from stocks, etc or whatever other reason that people don't have money to spend. Keep in mind that consumers are in massive debt in historical terms, so therefore borrowing more won't be the answer. The question then becomes, how much will productivity bite us in the ass? In '29 it likely took 2-3 times the percentage of the population to provide the essentials as it does now (I'm guessing on the numbers, but I think you get the point). One way to look at it is that productivity has increased so much that people already have everything they need and most of what they want. Interesting times ahead.... chic