It's The Economy, Stupid

I have a running theory. It goes like this. In 1999, the entire country, not to mention the whole world, was worried the change from 2 digits to 4 digits was going to be detrimental to our way of life. Because of this, companies spent and spent and spent. Unemployment went to 3 1/2% (artificially) and everything was thought to be a new paradigm.

When computers didn't crash worldwide, businesses were set. They had just bought all of the technology they needed for at least a couple of years. This filtered down and created quite a recession. More importantly, this put many companies on the exact same amortization schedule for their capital equipment. This means that businesses again will be light on demand of computer equipment, and won't need any for a couple of years.

It amazes me that people don't seem to have enough interest to determine what was the cause of the recession. To this day, people don't understand why the Great Depression (1930's) or the Raw Deal (1970's) ocurred.