To: Cary Salsberg who wrote (38746 ) 10/25/2000 2:00:22 PM From: Pete Young Respond to of 70976 OT sort of..20th Century history doesn't support a "decent" folk theory, and the 21st Century is not changing things much. How true, Cary. Speaking of such things, our beloved stockmarket seems to be a mechanism for conveying wealth from those in a weaker economic position to those in a stronger position. Our society's emphasis on the stock market for retirement and savings, is evidence how nasty and desperate IMHO we have gotten. Rather than an indication of our strength, the stock market, as presently constituted, shows how weak we are. I just wonder if Alan Greenspan isn't in fact, our version of Gorbachov. Something parties on the right forget, is that markets without any regulation are inherently unstable. Boom and bust. Unfortunately, under the prod of global competition, we have moved towards more volatility, removing more and more of the sureties (housing, jobs, community) required for people to build their lives on in the last 30 years. Boom and bust is great for speculation (provided you are on the right side of a trade), but not so good a platform to build lives on. A certain amount of instability is necessary for the creative destruction of the technological revolution of our time, but too much may even kill off the "New Economy". I wonder just how much instability people will put up with before there is a backlash? Not that backlash=solution, either. History shows that backlash isn't a solution, but makes the problem worse...look at Russia's 1917 revolution against the barbaric "free" markets of the turn of the century, or the Third Reich's answer to the failings of the Wiemer Republic (free globalized markets of the time)-or possibly Putin's Russia as a response to the failed free markets (free globalized markets of our time) advocated by the US. I believe that the backlash against the global instability we all are witnessing (and probably feeling today) has probably already started, and it started last fall in Seattle. Neither GW or Gore are even close to addressing solutions...both want to make conditions worse, when I believe what we really need a time-out---but, I also believe that what will actually happen is acceleration.