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Politics : PRESIDENT GEORGE W. BUSH
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To: Karen Lawrence who wrote (272779)7/10/2002 4:11:18 PM
From: Neocon  Read Replies (2) of 769670
 
The stock market is its own thing. The rise in equity values is not contingent on long- term investors, but on speculators continually bidding prices up or down. Regardless of whether the economy has been in recovery, people were badly burned when the tech bubble burst, and to that skittishness was added the various accounting scandals. Thus, people are afraid to buy, and eager not to get caught if there is another plunge. They are not looking at underlying values, they are looking at the direction of the market at any given time, and their position within it.
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