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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call
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To: Sojourner Smith who wrote (6483)3/12/2003 10:35:19 PM
From: Softechie  Read Replies (1) of 11447
 
George Soros: I see a parallel between the Bush administration's pursuit of American supremacy and a boom-bust process or bubble in the stock market. Bubbles do not grow out of thin air. They have a solid basis in reality but reality is distorted by misconception. In this case, the dominant position of the US is the reality, the pursuit of supremacy the misconception. Reality can reinforce the misconception but eventually the gap between reality and its false interpretation becomes unsustainable. During the self-reinforcing phase, the misconception may be tested and reinforced. This widens the gap leading to an eventual reversal. The later it comes, the more devastating the consequences.

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