a couple of points in response, Paul
you argue well that the infrastructure doesnt die
rather, it remains for the next owner to build a more efficient and prudent business upon
bankruptcy of its custodians does not mean the InfoHiway dies
it means it takes new owners eventually
I doubt it will ever go fallow or wither
it is that over-reaction that precludes liquidations
as for bubbles, I believe evidence abounds that we have seen a few radical technology bubbles scattered nicely among the biggest aggregate asset bubble that history has ever seen: S&P 500 AND Nasdaq
you cannot paint that canvass with one brush, one stroke
the radicals like fiberoptic, wireless, B2B/B2C internet, hispeed networking will survive, prevail, thrive
the pure asset bubbles are all over the place, beginning with the central nervous system S&P500 and Nasdaq
followed by Real Estate bubble in shift
I would include the Treasurys, except they are not assets
you sound like you simply share an aversion for clearing the decks, with all the pain and suffering it entails
that is the only way your technology can truly thrive, methinks
the excesses in our system are so incredibly deep
it boggles my head, and I wear a large hatsize
/ jim |
