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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: gerard mangiardi who wrote (40326)	7/24/2001 2:38:06 PM
From: stomper	Respond to of 50167

Everyone knows that we are at an earnings bottom in techland this quarter Huh? Did I miss the announcement. Several major tech CEO's have said they aren't expecting any menanigful recovery in earnings until second half of 02. -dave

To: gerard mangiardi who wrote (40326)	7/24/2001 2:48:17 PM
From: PMG	Read Replies (2) \| Respond to of 50167

Mass psychology certainly has it's place and there are a lot of points which can be made. But there is still a wide reluctance to discuss the basic underlying economic problems. Macroeconomic intrest exhausts itself in the belief that the Fed will do "the trick". But what trick? There is no trick to turn debt into assets. Companies have to change structures before they can carry a higher debt burden by improved productivity. Complex change processes have to be successfully implemented. This takes years and is not done by getting more computers but process innovation along the whole value chain. The consumer will first have to have more income before he can carry the debt burden he already has. But this is not in sight. I think there is a big mountain of things to learn and problems to be addressed before we can go for the new highs. The world has changed and folks have to adopt to the changed rules (which have first to be identified). PMG