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2MuchMark · 07-25-2011, 03:15 PM

Jesus H Christ:

The Dot-com bubble burst on March 10th 2000.
By March 20th, Nasdaq had lost more than 10% from its peak.

By 2001 the crash was going on at full speed and almost 5 Trillion of market value was lost. The US was in recession for 8 months, from March to November 2001, ending 10 years of growth.

Up until this time, The US Government had a surplus, not a deficit, thanks to Clinton. When GW Bush took office, he spent the entire surplus. People still got their checks because the US was able to borrow. There was never any argument about raising the debt ceiling at this time and there was no reason then to not raise it, just like there is no reason today not to raise it.

The markets did not rally "4 months later" but instead almost 24 months later. At the peak in 2000, Nasdaq was at 5000 but fell to less than 1000 by 2003 before it started to turn around.

07-25-2011, 03:15 PM
2MuchMark Too lazy to set a custom title Industry Role: Join Date: Aug 2004 Location: Canada Posts: 49,933	Jesus H Christ: The Dot-com bubble burst on March 10th 2000. By March 20th, Nasdaq had lost more than 10% from its peak. By 2001 the crash was going on at full speed and almost 5 Trillion of market value was lost. The US was in recession for 8 months, from March to November 2001, ending 10 years of growth. Up until this time, The US Government had a surplus, not a deficit, thanks to Clinton. When GW Bush took office, he spent the entire surplus. People still got their checks because the US was able to borrow. There was never any argument about raising the debt ceiling at this time and there was no reason then to not raise it, just like there is no reason today not to raise it. The markets did not rally "4 months later" but instead almost 24 months later. At the peak in 2000, Nasdaq was at 5000 but fell to less than 1000 by 2003 before it started to turn around.