The new economy was supposed to have a new set of rules. Interest rates didn't matter. Technology sp...
The new economy was supposed to have a new set of rules. Interest rates didn't matter. Technology spending was compulsory, not cyclical. The economy's top line was to have no impact on corporate America's bottom line. Alas, it turns out that the new economy doesn't dance to a different drummer after all. Instead, it cha-chas to the same beat as the old economy, only at a different speed and intensity. Where are all the new economy prophets now? In the first quarter of 2000, when the Nasdaq Composite Index was trading in the rarified atmosphere above 5,000, the tech gurus said higher inter...
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