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

To: StanX Long who wrote (56768)	12/1/2001 9:48:15 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Gloom, not doom November 30, 2001: 5:21 p.m. ET The jaded pessimist case for a tech recovery. By David Futrelle money.cnn.com NEW YORK (CNN/Money) - I'll admit it right up front: I'm a nattering nabob of negativity. Show me a silver lining, I'll quickly locate the requisite cloud. Show me a half-filled glass of water, and I'll say: "Hey, who drank half my damn water?" So, naturally, I've been skeptical of the recent tech rally, questioning the logic of paying no-longer-bargain-basement prices for the stocks of tech companies a long way away from meaningful recovery. But it's one thing to be skeptical -- and another thing to promulgate doom-and-gloom scenarios based on flimsy historical analogies. Consider, for example, the latest cover story in The New Republic, a lengthy and vaguely alarmist treatise from New Republic assistant editor Noam Scheiber that purports to explain "why this recession will be worse." (Worse than what, the headline writers don't say. A poke in the eye with a sharp stick?)