|
Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
|
You are correct.
We would have had a recession in '98, but the Asian Financial Crisis sent tons of investment dollars into the safe haven of the U.S.. So rather than flame out in '98, the economy heated up even more, and money was thrown at marginal projects just as the Internet was getting going, giving us the Dot-Com boom. It was really a fluke of circumstance.
That said, money fled into real estate after the dot-com bust, and is now moving from RE to commodities. It will be 2-3 years before we have a recovery.
__________________
Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris
"There is freedom in risk, just as there is oppression in security."
|