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To: schrodingers_cat who wrote (128882)	7/24/2001 1:10:12 AM
From: craig crawford	Respond to of 164684

>> In the early 90s unemployment was higher and there was still a hangover from the savings and loan mess. The end of the cold war was producing downsizing in the defense industry. The US government's budget deficit was a major concern. << what does that have to do with the excesses of today? >> The US consumer seems to be doing just that << yeah, except people on this and the new economy and it's kool-aid drinkers thread aren't shilling retailers now are they! they are still trying to bottom fish bloated tech stocks. many retailers have horrible earnings, but are pricing in a rebound by the consumer. i hope it materializes for their sake! and the consumer will cave, mark my words. then what? >> The Dow is basing << for a few years now! and that's only 30 stocks, which they conveniently change by tossing out the losers and replacing them with winners. no wonder the dow won't crack. >> and the Nasdaq is doing better than it has any right to, given the fundamentals for tech. << how can you say the nasdaq is doing well when it's 60% off it's high? actually there are some smaller names on the naz that are doing ok. but most people are still addicted to those nasdaq 100 bubble monsters.