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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: daryll40 who wrote (49059)	7/11/2001 9:42:33 AM
From: Jerome	Read Replies (2) \| Respond to of 70976

Didn't Fed RAISING interest rates AFTER the '29 crash CAUSE the Great Depression? No... when Hoover took office in 1928 there were already 6,000,000 Americans unemployed. The crash was just the last shoe dropping. The Fed raised interest rates after the crash because because European currencies were crashing, and it was thought the the best thing to do (at that time) was to have a strong dollar. The thinking was ...the world needs a strong currency and a strong dollar to give the world economic stability...overall a bad guess....this decreased liquidity....and the depression continued. Regards, Jerome

To: daryll40 who wrote (49059)	7/11/2001 9:57:26 AM
From: michael97123	Read Replies (2) \| Respond to of 70976

Daryl, What happened in 1929 has little bearing on the situation today? Concentrating on it does little good. Perhaps there will be another worldwide depression in our future but it will not happen at this time. What will happen is a recovery. The only questions are When and How Robust. Nasdaq will be higher some day. mike PS Does anyone view Cisco's purchase of an FO co. as bullish. I thought the comcast/Att and the Hess purchase as bullish events taking advantage of lower equity prices to add business. Cisco must believe its business/stock price has (or is about to have) bottomed to get back into this game. The comcast deal shows Telephone stock to be undervalued.