By the 1997 the internet was becoming very popular, and the nation began to experience the "dot-com" boom that would last until 2000. An internet craze swept the nation, and speculators (short-term investors) bought up the stock of new internet companies and drove up their price to high levels far above what was reasonable. The stock market, particularly the high-tech NASDAQ exchange, reached record levels. The economy benefited from all this, and the first budget surplus in decades was achieved by the federal government. But just as in 1929, the boom was followed by a "bust" that occurred in mid-2000. | By the 1997 the internet was becoming very popular, and the nation began to experience the "dot-com" boom that would last until 2000. An internet craze swept the nation, and speculators (short-term investors) bought up the stock of new internet companies and drove up their price to high levels far above what was reasonable. The stock market, particularly the high-tech NASDAQ exchange, reached record levels. The economy benefited from all this, and the first budget surplus in decades was achieved by the federal government. But just as in 1929, the boom was followed by a "bust" that occurred in mid-2000. |