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To: Seeker of Truth who wrote (49178)	11/29/2001 9:14:16 AM
From: J. P.	Respond to of 54805

I noticed that point also. I disagree with the article's contention that this is an information technology driven recession. I believe hardware and software spending have been cut because most industries are seeing a slowdown of their own profits and weakening demand for their own goods and services. Why? This is a recession based on speculative bubble capital and venture capital finding it's way to unproven technology stocks and debt issues. Now that excess capital has evaporated everyone has to cut back. And the first thing to be cut is information technology. But that's just a band aid to make the budgets look good. Eventually they'll have to budget even more IT spending to make up for the lost time on the upgrades and bug fixes that were put off to make the balance sheet look better for a couple of quarters. IMO there is still a vast corporate demand for more internal bandwidth (not long haul fiber) and better software and revisions of existing software. Not standard word processing or spreadsheets, but ERP, CRM, Sales Force Automation, Intranets....those are where the big money is anyways. And any business that is growing needs to constantly upgrade server farms, PC's, and internal bandwidth. Just not at the rate of feverish speculation that was priced in for the last couple of years.