While it may seem like it in CA the 90's growth in GDP has not been erased as it would have if the growth was all do to dot.coms. While we did go into recession, the GDP was only slightly negative compared to a decade of robust growth. Unemployment is still near levels once considered full employment. There were real gains made in the 90's due a combination of low interest rates and low inflation. While the dot.com may have had a significant effect on some mutual funds, in the broader markets its effect was more from market psychology than a huge fraction of the total value of tyhe Market. Too bad for the folks in CA, but the rest of us are hurting as much from the Enrons as the dot.coms.
Regards,
Mark
PS My friend at Cisco is still doing far better than he did at a printer company in Mobile by the way.
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