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Politics : Formerly About Applied Materials

AMAT 268.87

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Jan 2 9:30 AM EST

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To: Sam Citron who wrote (49840)	7/26/2001 11:03:09 PM
From: Katherine Derbyshire	of 70976

>>Sure there was a typical boom-bust cycle in semis and equip at that time, but I do not remember anything resembling today's uncertainty or collapse of end-user demand. Of course, this might be just my own myopia or amnesia.<< Remember that the Asian mess was partly because of overinvestment in semiconductor manufacturing. In addition to the cyclical bust induced by the DRAM crash, there was a very real fear that substantial amounts of equipment already out there would not be paid for because the purchasers were going bankrupt. While the US economy remained healthy (thanks in part to the much despised Mr. Greenspan), several Asian countries teetered on the brink of financial collapse. Remember the video footage of Koreans donating gold jewelry to the government to help it raise hard currency? The US is in worse shape now than it was in October 98, but the global economy as a whole is much healthier. Katherine

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