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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (14619)	10/8/2002 7:58:23 PM
From: Lee	Read Replies (1) \| Respond to of 17183

Brian, That is my point. People are calling this a painful recession due to its length. However, measured in contraction (as a % of GDP) it does not rank high as a "painful" recession. Economist might call it a "minor" recession. In this context some people seem to prefer the higher unemployment 3% plus contractions that were more the norm before folks tried to smooth out the business cycle. These normally lasted 18 months or less but more people felt the job loss. Now maybe we will get near double digit unemployment and a greater contraction in economic output. At that point will the current cycle now start being labeled a "depression?" There are various definitions of pain. But the current recession, while long, has put more people in houses, cars, and new beds than some of our past expansions. We have seen some record numbers here. So I guess pain is individual. Lee