Hi Bobby Y. re: "I can't see the world going into a black hole"
Nobody is more excited about the net and other tech developments than myself. They've been good to me.
However, I do expect a financial collapse. Including all the world's unbacked currencies.
During a financial collapse, none of the real estate disappears. None of the gold, silver, gems, chickens, goats, pc's, telephone lines, internet access.....Nor does the human desire to produce, invent, and trade these.
What changes is the value of the paper representing these things. And the ownership of these things. And this is usually painful because most people's allocation of resources (chickens, pc's, goats) reflected a distorted perception of reality. That's because the intermediary paper, manipulated by those in power, fooled them into believing they had more than they did..
Maybe they overestimated future demand (overcapacity) and now have to sell for nothing. Maybe they hired too many employees and now have to fire them. Maybe they retired too early. Maybe they bought diamonds when they should ahve stocked up on canned food. Maybe they made debt that they could not repay.
As they reallocate recources to reflect reality, they undergo pain, but the economy becomes healthy again. A new world is born.
Thanks for your thoughtul questions. |
