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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (251071)	9/12/2005 5:58:22 PM
From: tejek	Read Replies (1) \| Respond to of 1570553

Ted, Huh? It was a bubble in stocks, not the whole economy. Huh? The bubble in the stock market propelled the whole economy. What's the difference? There was a bubble in tech stocks and tech industries.......primarily. That concerned Greenspan and led him to think inflation was just around the corner and he applied the brakes to the economy. Many contend now that was unnecessary; that the bubble in stocks would have worked itself out without interference by Greenspan. Its why many think that was the reason the recession never got that bad. So sad, you all don't know how to run a country and then you trash the guy who could. Who said I was trashing Clinton? All I'm saying is that there was a bubble in the late 90's. If you want to credit Clinton for said bubble, you should also fault him for letting it burst like it did. It wasn't the bursting of the tech bubble that caused the recession.......after all, tech is still a very small part of the economy......sure San Jose, Portland, Seattle and Boston were hurt but that was the extent of the damage from tech and the bubble. It was the application of the interest rate brakes by Greenspan that caused the recession. While connected in one way, they are still two fairly separate issues. Either that, or you could just give Clinton enough credit to stay out of the way while the bubble inflated. Clinton did amazing things with the economy. However, there was not much he could do with tech......it was on its own track for several years. It was a special period in an industry that happens when the industry is fairly new but has reached a critical mass. That's why I feel sorry for all those people who continue to invest in tech expecting a repeat of the '90s. Its not likely to happen. ted