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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (46491)	1/15/2002 5:44:51 PM
From: FR1	Read Replies (2) \| Respond to of 65232

One thing everybody seems to agree on is that ebay has the right model for the internet. Set up a business that allows people to make a living from home by just coming to your web site and selling their things (or services). You are just a bookie taking a small percentage. Low overhead, millions of customers that flock to you like animals that hear the dinner bell, and everyone is happy. I am sure we will see more of this.

To: stockman_scott who wrote (46491)	1/15/2002 6:41:15 PM
From: Sully-	Read Replies (1) \| Respond to of 65232

O'Neill Sees Positive Signs on Economy By Ross Finley NEW YORK (Reuters) - U.S. Treasury Secretary Paul O'Neill said on Tuesday the U.S. economy showed signs of shaking off recession, and predicted the country will return to budget surpluses. Economic fundamentals are in place for a return to growth of between 3 percent and 3.5 percent toward year's end, O'Neill told a retail business group, delivering a forecast roughly in line with those of most Wall Street economists. ``We believe that the fundamentals are in place for a return to ... a 3 percent to 3.5 percent real rate of growth, clear, as we move through the 12 months of this year,'' O'Neill said in response to a question at an annual meeting of the National Retail Federation. O'Neill urged Congress to cooperate in reviving an economic stimulus package, which failed in December amid acrimony in the Senate about whether tax cuts or spending measures would do more to help the growing number of unemployed. He added that passing the legislation would be in the interests of the world's largest economy, now suffering from its first recession in a decade. ``The sooner we get the economy growing again, the sooner we will return to the era of budget surpluses,'' O'Neill said, defending the Bush administration's tax cuts last year that Democrats claim squandered expected surpluses. ``Of course we should run a budget surplus when our economy is running well, but we should not raise taxes to achieve an accountant's surplus when our economy is limping or in the early stages of recovery,'' O'Neill said. MOVING INTO POSITIVE GROWTH In an earlier interview on CNBC television, the Treasury chief said economic data were showing signs of improvement. ``The data that I'm looking at tell me the economy is and has been moving from a slow period to one where the data is kind of mixed and we are seeing some positives,'' O'Neill said. ``But I think the balance is now decidedly on the positive side and I think it foretells movement back into significant positive growth as we go through the year,'' he added. Earlier on Tuesday, Commerce Department data showed retail sales dipped 0.1 percent in December, but the drop was considerably smaller than what Wall Street had expected. O'Neill said this data for the key holiday shopping month matched his cautiously optimistic assessment of the economy. ``The numbers...fit into my overall view of where we are today,'' he said. ``We see signs that the economy is improving, but the signs don't give a clear indication yet that our rate of improvement will be as strong as we'd like for it to be.'' In the short term, the economy should get a lift from restocking inventories, O'Neill said. After that, he added, ``we need to kick in the investment side of business activity'' to get a sustained recovery from recession that began last March. Echoing statements from Federal Reserve policymakers, O'Neill said inflation remained under control. But he added he was beginning to see evidence of pricing power returning -- usually viewed as an sign demand for goods is rising. STILL HOPE FOR STIMULUS O'Neill said lawmakers, due to return to work on Jan. 23, might have changed their minds on the economic stimulus by now after hearing from voters, and said the Bush administration was ready and eager to resume work on a stimulus package. ``We're very hopeful we can get it done in a few weeks,'' O'Neill said. On the matter of bankrupt energy trading giant Enron Corp. (NYSE:ENE - news), O'Neill said that while ``something clearly went awry,'' there should not be a rush to judgement until it was clearly shown whether or not there were violations of the law. ``I believe this: if people knowingly, intentionally violated the law, then they should be brought to justice,'' O'Neill said. Enron and its former officers are under investigation on several fronts after the collapse, which threw thousands out of work and wiped out the pension plans of many employees following a plunge in its stock price. Enron was a major contributor to the presidential campaign of George W. Bush but gave money to both Republicans and Democrats who were seeking office. biz.yahoo.com