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Quotes of the Week

April 17, 2000

There was no shortage of terror and dispair in the financial markets . . . It was all a bit reminiscent of the fable about the little boy who cried wolf. By the time one finally appeared, most people had lost their capacity to believe and be alarmed.
Louis Rukeyser on Wall $treet Week (4/14/00)

There's no such thing as a ``new economy.'' Or an ``old economy.'' The government doesn't figure a separate inflation rate for the new economy that economists can compare with Brazil's or an unemployment rate for the old economy for comparison with the jobless rate in France. This new economy nonsense is Wall Street's most-brazen attempt yet to seduce investors . . . This isn't to deny that the economy is changing. The Internet may bring efficiencies we can't imagine. But the economy always is changing. Think of paper money, electricity, oil, the mass production of cars, ice cream. None heralded a ``new economy.'' It was still produce, sell, buy, consume.
David Pauly in Don't Be Bamboozled -- There's Just One Economy from Bloomberg (4/11/00)

If you walk into a meeting in the Internet economy and find four guys in $2,000 suits and four guys dressed like beachcombers, you know right away that the beachcombers are in charge. The suits are just the hired help.
Michael Lewis in Wall Street's Geek Revolt and New Power Symbols from Bloomberg (4/12/00)

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