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Technology Stocks : Micron Electronics (MUEI)

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To: John Finley who wrote (3594)	12/6/1998 11:44:00 PM
From: Carl Held	Read Replies (1) of 4074

The big picture........George Soros....Part 1 Newsweek December 7, 1998 newsweek.com The Crisis of Global Capitalism In an exclusive excerpt from his new book, billionaire financier George Soros assesses the current state of the world economy, describes how close we came to a collapse and offers some ways to prevent a real meltdown Prosperity In Peril The global capitalist system, which has been responsible for the remarkable prosperity of this country in the last decade, is coming apart at the seams. I said it in congressional testimony and I still believe it: This summer's decline in the U.S. stock market was only a symptom, and a belated symptom at that, of the more profound problems that are afflicting the world economy. The recent rally is likely to be followed by a more prolonged bear market. Reductions in interest rates will cushion the market decline, and the economy would eventually recover if the global capitalist system held together. But the chances of it falling apart have greatly increased. If and when the U.S. domestic economy slows down, the willingness to tolerate large trade deficits will decrease, and free trade may be endangered.

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