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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (65589)	6/22/2004 12:32:33 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 77400

tech up 40% in 03 was a relief rally, spurred by bogus GDP figures of 8% released by the fed that the economist disputed as not taking into account offshoring (with offshoring we had 2-3% GDP which explains a lot). As far as I know, they still haven't fixed their metrics at the fed. I don't trust much about their claims that we are in a 4% GDP economy right now. Its probably about 2.5% when you net out the offshoring. Anyway people didn't know this in 03 when those numbers first came out and stocks rallied hard after a fairly dismal 02 bottom. If we really had 4% GDP, we wouldn't have the budget problems at the state and local governments, or the huge deficits. And at 8% GDP - whoa - the USA would need more accountants than even india could provide just to count the money.