Page 8 - Internet Bubble News Today

Economic growth did take a hit, but then it went from 2.6% to 7.2%. that was at the beginning of the internet bubble. that said the economy then and the economy now is very different. we are barely growing as it is. >> job creation is awful and gdp is awful. it wouldnt take much to put us over the edge. we have one foot over the precipous already. >> it is has been no big deal to wall street basically. we have lost six out of the last seven trading sessions. >> but no huge loss. >> no, not at al...

That would be a small tax on all trades done by wall street. a lot of would reduce speculation on wall street which would be a good thing. those people trade like crazy its a casino there on wall reet. right? we need to tamper that down. >> laura: when i hear the experts, david, i think of the same people that didnt know about the housing bubble, the internet bubble, who didnt, you know, tell us that 9/11 was going to happen. i think a lot of these experts are wrong and the peoples common sense ...

That would be a small tax on all trades done by wall street. a lot of experts think it would reduce speculation on wall street which would be a good thing. those people trade like crazy its a casino there on wall street. right? we need to tamper that down. >> laura: when i hear the experts, david, i think of the same people that didnt know about the housing bubble, the internet bubble, who didnt, you know, tell us that 9/11 was going to happen. i think a lot of these experts are wrong and the pe...

Financial transaction tax you have been talking about. that would be a small tax on all trades done by wall street. a lot of experts think it would reduce speculation on wall street which would be a good thing. those people trade like crazy its a casino there on wall street. right? we need to tamper that down. >> laura: when i hear the experts, david, i think of the same people that didnt know about the housing bubble, the internet bubble, who didnt, you know, tell us that 9/11 was going to happ...

Down. that is another thing, consumers dont feel as confident as they would. if they dont they will not spend, that is the way you get the economy moving. >> heather: some who have been able to re-establish wealth, those that have been in the stock market but that only affects wealthier families? >> in your 401(k)s which a lot of people have seen, they have eastbound a huge benefit, the s&p is up 14 percent this year alone, the fastest five-month to a start since 1997 during the internet bubble,...

Again, that was despite the 209-point selloff on the very final day of the month. we have brenda here and to you first. what do you think wins out in this case, if it is a scandal all the time or for that matter the economy? which is going to decide where the markets go? >> well, the markets do not mind, wall street does not mind if washington gets tied up more and more in knots because less will get done. that is better for our economy and better for wall street. so i think theyre watching the ...

Its definitively going to make a move. >> what of its cutting back? >> then i pull back as well. theyre saying maybe possibly some day. >> neil: you dont think some of this has frostiness feel? the subject of potential bidding wars and the internet -- >> this is a huge bubble. >> neil: we all remember the bubble. >> try to figure it out. dont try to get the top. you just dont want the bottom you got to get out at some point. now is not the time. the internet bubble in 1998, 1999, was different i...

And so everybody benefit. >> whoa, whoa, how does the companies have more money to spend? >> they do stock offering as, borrow money. >> you can raise money as a start-up company knowing you can go public at a higher valuation later. >> no, i understand that. but its not like theyre doing these stock offering a, oh, my gosh, stock is up 25%. lets do another stock offering a. those are far and few between. i dont think there is much connection. >> they could go public and do a nasdaq 5,000 situat...

Fast, in part because the fed -- ben bernanke has been pumping trillions of dollars into the economy, keeping interest rates at all-time lows, near zero. and wall street likes that -- >> jamie: i imagine -- is that the right answer, though? >> absolutely not. there are a lot of economist who is say this is the bubble we are going to be facing this bubble at some point. but for now, we are seeing wall street saying, who cares about the cuts? they are not that big of a deal? you expect the curts t...

Guy, we have actually defeated militant islam, think is a false premise, and its dangerous to sell that to the public. we have a lot more work to do. >> neil: hes pretty smart and his perception about terrorist threats was dead on. so i will ask you about the gm reference that the vice-president made, and that is that gm is alive and well and back. do you quibble with that as well? maybe it could be having problems? explain. >> i dont quibble at all. i think its flatly wrong to say that gm is no...