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To: robert b furman who wrote (3705)6/28/2002 9:24:13 AM
From: orkrious  Respond to of 95503
 
don't you think that approach is getting a bit long in the tooth with the economy bubbling up and being ignorred??

No. I think that stocks are still grossly overvalued and the increase in economic activity is solely due to massive gov't spending in the wake of 9/11 and for defense, along with some inventory rebuild. Also, the economic numbers are "massaged" by the gov't and aren't truly accurate. Does anyone really think productivity grows at 8%?

We don't go through one of the greatest speculative bubbles in history without a serious hangover. Our economy is going down hard and market is still priced like good times are right around the corner.