When there's proof that the economy kept growing for over a year afterwards regardless of the Dot com collapse and the recession didn't begin until April 2001, after Bush took office?
And the fact that one company, Motorola, was responsible for more firings in late 2001 than the entire jobs lost from the Dot com collapse?
2006-12-27 03:15:53 · 7 answers · asked by SANDY 1 in Politics & Government ➔ Other - Politics & Government
No, recession officially began in April 2001 when the economy stopped growing.
http://money.cnn.com/2001/11/26/economy/recession/
Motorola is NOT DOT COM you retard. It's a technology company. And the firings came in October 2001, nothing to do with the Dot com collapse. So dumb.
2006-12-27 03:26:43 · update #1
they have to blame someone other than themselves.
2006-12-27 03:18:33 · answer #1 · answered by Anonymous · 1⤊ 3⤋
The dot-com collapse was probably necessary for the April 2001 "beginning" of the recession.
2006-12-27 11:24:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Because it was. Here is how.
1. Wall Street went googly over technology and e-commerce. They did not want to miss the next big thing. Amazon.com was at $130 a share in 2000 even though they never made a profit. The valuations were way out of line. It was nothing more than speculation.
2. Eventually, the market began to correct itself. Prices came down to reasonable levels.
3. This all happened under Pres Clinton. It was all false growth.
4. The recession started in 2000, not April of 2001.
2006-12-27 11:22:48 · answer #3 · answered by Chainsaw 6 · 1⤊ 2⤋
We were in an official full recession by 2001. Hate to break it to ya bud, but Motorola was also included in the Dot.com bust.
2006-12-27 11:21:52 · answer #4 · answered by Anonymous · 3⤊ 1⤋
If they blame the mini-recession on the Dot.com bubble burst, then the credit for the rip-roaring economy before that goes to overspeculation in Dot.com stocks, not to anything Clinton did. It's because the petty-minded Clinton-haters are reluctant to give him credit for doing anything right.
2006-12-27 11:24:25 · answer #5 · answered by Anonymous · 0⤊ 2⤋
There were lots of things that brought on the 2001 recession.
Economists begged Clinton to do something to stop the coming recession. Cut taxes, etc...
Clinton didn't care. He knew he would be out of office before it hit.
2006-12-27 11:19:56 · answer #6 · answered by Anonymous · 4⤊ 2⤋
The dot.com collapse was a double-whammy. Not only did people lose their jobs, but investors and venture-capital firms lost all of the money they had invested in those companies.
2006-12-27 11:22:04 · answer #7 · answered by ? 6 · 2⤊ 1⤋