From: Colin Hales (colin@versalog.com.au)
Date: Thu Aug 08 2002 - 16:07:27 MDT
Samantha Atkins
> Good. I believe that even great technology + stupid business
> models + greed insufficiently tempered by intelligence +
> snowball effects gave us a grossly inflated economic bubble that
> is not through popping. I think it will take years to clean up
> the aftermath. Trillions of dollars of investment income, the
> very stuff essential to beginning and growing new businesses and
> the accumulated savings of the world, have been blown away.
> That has very serious and somewhat predictable consequences
> .
I wonder about this sometimes. Exactly what has been 'blown away'?
Take a look around you. Trees, flowers, cars, houses, weather....it's
all still there.
What's gone is a pile of 'notional value' - the rights to things
as yet not done. 0s and 1s in a computer memory. All we have to do is
'believe' them back into existence.....this is what the herds of
bulls and bears are doing, bouncing from hangover to rumour to
inuendo to weather report.
colin
This archive was generated by hypermail 2.1.5 : Sat Nov 02 2002 - 09:15:58 MST