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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: BGR who wrote (72125)10/27/1999 1:16:00 PM
From: pater tenebrarum  Read Replies (1) of 86076
 
BGR, apart from the fact that CSCO can be expected to publish a slightly self-serving study, there can be no doubt that the future belongs to a large part to the internet. however, if you think that the internet will somehow avert that the price for the credit bubble will be paid, you're probably wrong. arguably the technological advances at the beginning of the 20th century were even more profound in their impact (electrification, automobile, telephone, etc.); nevertheless, the price for the credit and asset bubble of the 20's eventually had to be paid. the similarities of that period to the '90's are indeed baffling...here's a good synopsis of what happened: (take note of the productivity increases and the explosion of private sector debt):

Message 11717302

unfortunately it is too late to avert the consequences of the '90's bubble...the excesses are way too big already.
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