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Gates Sees No Economic Recovery in 2002 | |
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| Time: 02:06 EST/07:06 GMT | News Source: Reuters | Posted By: Robert Stein | ||
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Microsoft Corp. Chairman Bill Gates said on Sunday that he sees no global economic recovery this year, countering a budding groundswell of optimism tied to economic data pointing to a fast rebound. Gates, co-founder of the world's largest software supplier, said that corporate capital spending cuts and a glut of excess capacity in hard-hit sectors such as telecommunications may keep the economy moving sideways through the rest of 2002. | ||
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| #1 By 135 (208.50.201.48) at 2/4/2002 3:07:31 AM |
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To be more accurate, what Gates is saying is that he sees the economy as remaining flat for this year with little growth.
I don't know what exactly constitutes a Recovery. I think as long as the economy is not in a negative decline we are doing well, while 4% growth is probably a bit optimistic. |
| #2 By 3465 (206.20.132.147) at 2/4/2002 8:21:43 AM |
| Thank you Bill Greenspan. |
| #3 By 2332 (129.21.145.80) at 2/4/2002 9:45:45 AM |
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Of course, Gates didn't see the Internet either.
Sorry... had to. :-) |
| #4 By 2960 (156.80.64.157) at 2/4/2002 1:38:15 PM |
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Of course not!
He has all the money! Hehe :) TL |
| #5 By 2332 (129.21.145.80) at 2/4/2002 6:29:42 PM |
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#6 - Head of IBM in the 60's believed the world would only need one or two computers.
Gates is a lot more than an economist. In fact, most would say he is actually a fairly poor economist at that. What he understands is positive feedback loops, and those that both understand and exploit those loops will be rich pretty much no matter what else they do. |
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