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Politics : Formerly About Applied Materials

AMAT 220.28

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Nov 20 3:59 PM EST

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To: Gottfried who wrote (48837)	7/8/2001 12:57:34 AM
From: Think4Yourself	Read Replies (2) of 70976

Was looking at the May Beige Book report today. Very depressing. Everything slowing down, recession appears imminent, etc... Then I was reading about the politicians in California. Remarkable similarities between the California crisis and the stock market. Wall Street Analysts are as competent as California politicians (they're not). The "no energy crisis" and price gouging stories in California are similar to the "recovery around the corner" and "good bargains now" stories on Wall Street. The ignorant Californians are similar to the ignorant investors in that both groups are happy to believe an obvious lie because it makes them feel better. Remarkable similarities. Makes one wonder how many people are in one group making fun of the other group, without even realizing the irony. The major difference is that Wall Street regularly shocks it's participants back into reality, preventing them from getting too far out of touch, while the California politicians have much more control over the illusions they create. EDIT: Oops, thought I was on the HTP thread. Apologies if somewhat off topic.

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