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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: lurqer who wrote (14029)	3/6/2003 2:46:40 PM
From: Jim Willie CB	Read Replies (3) \| Respond to of 89467

the whole Roach article is outstanding the main message is that Iraqi resolution is not the issue nor is a return of capex spending likely to happen if consumer demand falters, why should capex return ??? Roach competently explains that historically capex will actually LAG final demand, with ample evidence THIS FACT IS TOTALLY OVERLOOKED BY ANALYSTS AND ECONOMISTS NOW and demand now is almost nonexistent so why will capex mysteriously reappear??? DELUSION not only that, but the pct of capital spending devoted to InfoTech equipment has risen from 31% in 1980 to 47% in 2000 that is precisely where the most excess capacity exists along with useless mfg plant (see Asia and China) in fact, the only new capex planned by US firms might be in new Chinese plants !!! the energy tax is slowing down consumer spending it is also making unnecessary the corporate capex outlays UTTER NONSENSE THE DELUSION CONTINUES / jim