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Politics : Foreign Affairs Discussion Group
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To: Karen Lawrence who wrote (57426)11/16/2002 1:05:00 PM
From: paul_philp  Read Replies (2) of 281500
 

OT I did not say nor imply nor speak of the market bubble. THAT I still blame on greenspan, the arrogantly inept.


Karen,
Quite accidentally I have become a student of market bubbles and technological progress. I am in the middle of writing a book on the subject, focusing on the next 10 - 15 years in the process (thus all my paradigm shifting commentary). It is comforting to find someone to blame for what we have experienced over the past 5 - 7 years but it is a myth. Since the Industrial Revolution (and before but documentation is harder to find) the economy moves forward on the tectonic plates of technological changes. There are regular periods of technological and financial revolution. Part of this cycle includes a period of economic exuberance and collapse. This marks the half way mark of the revolution. Claude Shannon is more to blame for the bubble than is Alan Greenspan.
Of interest on FADG is that these periods of crisis in technological revolutions always bring about a period of great social crisis (civil war, world war, depression, political revolution). Did 9-11 mark the beginning of the social crisis of this technological revolution? I strongly believe that this is the case.

The economy is not so much a target of the war against us as it is the real enemy of our enemy. Economic globalization (integration) and radical Islamism cannot co-exist. They are radically incompatbile.

Paul
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