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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (119437)	3/6/2001 7:17:04 AM
From: ChrisJP	Read Replies (2) \| Respond to of 164684

Hi NYCBoy, I suppose it is best to err on the side of caution. I sure did. I knew the .com were a bubble and never rode them. I figured with my luck, the bubble was waiting for me to buy as the signal to burst. Didn't get rich, still have my life savings. Yes, we should all be concerned about debt and deflation. Are you aware that you are very selective in your facts when you express your point of view ? In 1929, people were allowed to buy stocks on margin with only 10% down. That means if you bought $10,000 worth of stock with $1,000, and that stock dropped just 10%, you would be forced to sell or come up with the money. Of course, when people sold to cover margin calls, that would cause the stocks to drop which would result in ... more margin calls ! lol The spiral down took 4 years to complete and when it was done, the markets were .... . . ...... 90% lower than the top !! ... See the connection ? BTW, the Fed tightening money supply when it should have been loosening it, helped run us into the depression too. Margin limits are now 50%, and on the .coms, the limit was raised to 70%. These people on margin were the first ones taken out of the game. They're long gone. Again, the NASDAQ, where the bubble was, represents only about 20% of our economy. This was much different than 1929 and 1974 when the entire stock markets were grossly overvalued. Let me explain the 1960's "Nifty Fifty". Just as today, 90% of the market cap of the NASDAQ is in the top ten (or maybe even 8) stocks, the "Nifty Fifty" represented most of the market cap OF OUR COUNTRY. So they weren't just "50 stocks" as you say. How could you not know this ? Regarding unemployment: As it turns out, our country has been operating with a shortage of technology professionals for the past 2 - 3 years. I know, because I'm a hiring manager for a large technology company. We still have something like 10,000 job openings. Anyone losing their jobs in .com land will have no trouble finding a job. They just better not expect to become a millionaire just because they know how to program a computer. They also may have to move away from .com-land. And as you pointed out, I hope they didn't pay $500,000 for a $200,000 home. So yes, things are gonna be soft for a year or so, and yes, unemployment may rise to 5% - 6% or so, and the tech sector is not gonna be a get rich quick place to put your money, but another "great depression" ? Unlikely. Chris