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To: TigerPaw who wrote (166654)8/30/2001 1:01:19 AM
From: freeus  Respond to of 176388
 
Right on!



To: TigerPaw who wrote (166654)8/30/2001 9:35:32 AM
From: Oeconomicus  Read Replies (2) | Respond to of 176388
 
Tiger, I disagree.

First, I don't think the notion that there was a market bubble in technology investing necessarily requires one to dismiss the impact of technology on the economy over the last decade or the next. Those who do dismiss it, those who think the bubble invalidates the claimed contributions to productivity and growth are making a big mistake. There was another big technology bubble this century. The new technologies were manufacturing efficiencies developed in the auto industry and a rapidly growing medium called radio. Does the 1929 crash invalidate the advances in manufacturing and communications that preceded that bubble? Does the recognition of those advances require one to deny the bubble?

Second, the market and the economy were not derailed by "a return to old economy transportation and energy issues." They were derailed by the sudden realization that old economic rules do, in fact, still apply. The so called "new economy" is subject to the same tendencies toward over-investment, over-capacity and over-production that have contributed to economic cycles for many decades, if not centuries.

Lastly, I seriously doubt that this downturn is going to quash for very long the entrepreneurial drive to innovate, the process of creative destruction, or the capitalistic drive for wealth that have built this economy. Everyone will just have to work a little harder on the first two and be more careful with their limited resources in order to achieve the third.

Regards,
Bob



To: TigerPaw who wrote (166654)8/30/2001 11:25:07 AM
From: Sig  Read Replies (1) | Respond to of 176388
 
A minor tankage today nothing to worry about, probably just the last of the 6 rate increases kickin in and soon Mr G's decreases will have an effect. Markets all run by computers using MS OS's so nothing can go wrong.....nothng can go wrong.... nothing cn go wrong.... nthing cn go rong..... nhig cn go ong. FATAL ERRORR EXCEPTION AT *!#@$
Sig



To: TigerPaw who wrote (166654)8/30/2001 11:11:40 PM
From: Selectric II  Read Replies (1) | Respond to of 176388
 
Who says the whole past decade was a bubble? And which "Bill" do you credit with technological information change? Don't bother answering; I figure you credit Clinton with inventing Windows and AlGore with inventing the internet <g>.

"Central Planning" is a Marxist/Leninist notion. It doesn't work, and every economy that has tried it has collapsed, unless subsidized by another (or by the enslavement of its "liberated" citizens).

Anybody who blames the current economic circumstances on an administration that took office only 7 months ago not only gives them too much credit for their ability to change things overnight, but moreover, ignores the economic slide that began in 2000, and the consequences of the fed's jumping on the emergency brake of last year.