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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: hmaly who wrote (132161)	2/9/2001 3:14:36 PM
From: tejek	Read Replies (1) \| Respond to of 1570494

He feels that the increase in utility bills at Xmas time caused the big slowdown in Xmas spending and would continue for at least another 6 months. Sorry, Harry, this guy can feel all he wants but what got us into this mess was first the feds cutting rates due to fears of inflation which was starting to rear its ugly head.....a normal procedure. Second, the market reacted with the Naz starting to tank in March while certain sectors on the NYSE began to ramp up...again a mostly normal reaction except that the speculation in the Naz had reached dizzying heights, resulting in a fall that was steeper than normal. This steep decline in the Naz began to introduce a fear-of-recession factor that probably was greater than normal because its been so long since we have had a recession. Than came the election uncertainty during which every Republican economist or pundit or j*ckoff said we were going to hell in a hand basket if the election wasn't determined quickly. This in one of the most stabile democracies of the world. The result was even more fear, and when things did not pick up quickly after the election, industry decided they better turn off the spigot in December and because most industries are computerized, the spigot was shut down very quickly. Further complicating matters, many industries had stockpiled inventory because of component shortages or alleged component shortages during most of 2000......so now we had an inventory overhang. And our new President who can't come up with an original statement, except "er", says that the economy is flashing warning signals, a comment he picked up from his Treasury Secretary. He makes this comment inspite of the fact that at best the economic info to date is mixed. Neither jerkoff can give us the reasons for declaring that there is a flashing warning signal but both reiterate the desperate need for Bush's tax cut which the WSJ says as proposed can not be fully implemented until 8 years from now. Meanwhile, the rest of the Republican faithful complain about Clinton's office space. Stupid is as stupid does. ted