It was the STUPID.
It was Stupid Jr. to be more precise. There had been one bubble after another for a decade as the economy took off. Some like to lump it into some all encompasing thing, but there was a PC-memory bubble at one point, storage bubble, web site bubble, auction bubble, CRM bubble, wireless bubble, laser bubble, steel bubble, softwood bubble, Y2K bubble and many others. These were all bubbling because the economic pot was cooking. Junior didn't just burst a bubble, they burst on their own. Junior fundamentally tried to change the thriving tech economy back into a resource based market of inside trading, just like he, and his daddy and Cheney and the rest were used to. When he wrecked it he set the economic engine back to idle. Then all the bubbling stopped.
TP |
