The last and final act in the technology bubble drama

Another sinking spell. Previous setbacks to the Nasdaq index were widely hailed as great buying opportunities in May 2000, November 2000, March 2001 and September 2001. Each proved to be a disappointment. Will this setback be any better for global markets? I think it will be, because the reasons for selling have changed. The genuine bad news is now out. The internet shams, dodgy accounting and financial pyramid schemes have been exposed. Technology has been revealed as a cyclical capital goods industry. Capital spending is being cut to eliminate excess capacity. Growth has been repla...