Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Baldur Fjvlnisson who wrote (12417)	1/2/2002 7:03:26 AM
From: LLCF	Read Replies (1) of 74559

I think this is entirely appropriate: <<Titanic offered an eerily perfect metaphor: well dressed, well fed, affluent individuals, ignorantly putting their blind faith in the newest technology, the New Era, oblivious to the unseen forces which would ultimately spell their demise.>> And this is right on.... the parallels to other bubbles were talked about freely in the press by some.... just never seriously, they were always dismissed by the mainstream: <<Even in the waning days of the Internet bubble, the mania was given only kid glove treatment. There were plenty of half-hearted allusions to the Dutch tulipomania, but they seemed almost tongue in cheek, delivered with the cheeky confidence that this was something different. After all, in 1999 we were much more enlightened than in the Middle Ages. Computers and the internet were to rule the world. New Media was the big idea. We weren't as silly as to ascribe astronomical value to something as worthless as a tulip bulb. Were we? >> Even TODAY we sit here and it's so obvious to most that nothing like "Japan" could happen here that everyone is worried about where the bottom is.... of the market that is, not amount of debt they can run up. DAK

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