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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.82

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2:22 PM EST

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To: GST who wrote (151572)	1/17/2003 8:34:13 PM
From: Victor Lazlo	Read Replies (1) of 164684

<< the Federal Government deficit, State deficits, consumer spending, the value of the dollar and the glut of productive capacity with more of that being in low-cost economies like China. >> China enjoys high and rising unemployment, much higher thatn the 6% current in the US. China has capacity gluts galore in just about all sectors, and prices are plunging. There are no value adds that can withstand competitors. There are really no Mercks or Intels or Microsofts in China, only cheap high-volume copycats. Most of what is made in China is a commodity. If you can make wooden nickels two cents each, who cares? Consumer spending in China is so low it's nearing crisis levels. This is partly what did in Japan, and now it's happening in China. Banks are being forced to give bad loans after their previous bad loans to many companies with phony balance sheets and faked 'profits.' I think within the next 18 mos we'll see a giant Enron/Woldcom scandal wave sweep across China and all the slick phony baloney will come out in the open.

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