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October 9, 2001
Nation's Infrastructure will Boost Economy
The U.S. has the lowest debt-to-gross-domestic-product ratio of any developed country. That's one of the reasons why we can look for heavy spending on a landmark national legislation effort (a large-scale public investment program with a long-term economic impact), in addition to being a needed economic stimulus package.
According to a report by the American Society of Civil Engineers, America's infrastructure needs $1.3 trillion over the next five years to reach acceptable standards. So look for much more aggressive spending on highways, airports and energy transmission, not to mention the Department of Education's suggestion that over $300 billion is needed for rising enrollment and installing modern technological infrastructure.
11 Attack Shows
Some 1.2 billion people in the world now subsist on less than $1 a day...the global benchmark for poverty, and that number will be increased by another 10 million, according to the World Bank.
effects will be especially felt in countries dependent on tourism,
foreign investment, remittances from citizens living abroad, and
exports of agricultural commodities--notability countries in the
Middle East, South Asia and Northern Africa.
2.0 Says The Internet
In the November issue of Business 2.0, a 7-page article titled, "The 7 Habits of Highly Persistent Dot-coms" contends that now that the get-rich-quick prospects have evaporated, the Internet no longer holds much appeal for financiers.
The seven examples of what is needed to succeed today were all the opposite of the hubris of just 18 months ago...with a much greater awareness of the need for tightfistedness and a greatly reduced sense of grandiosity.
Geoffrey Moore, author of the best-selling book, Crossing The Chasm, explains today's web as "a huge flea market that is open for people to set up tables. This is not the time to put up a Wal-Mart on the Web," he admits.
Editor's Note: Backing up Moore's contention of a huge flea market is news from Amazon.com that their used-goods initiative, dubbed Marketplace, has been far more successful than its auctions. Last quarter Amazon said one out of ten customer orders in the U.S. were for used goods.
eBay's online marketplace, once dominated by collectibles' traders,
has veered decidedly toward the trading of items such as computers
and electronics, including many new goods sold by liquidators and
Here And There. . .
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