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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (21788)	7/28/2002 11:32:49 AM
From: paul_philp	Respond to of 74559

Jay, It is not a tropical vacation but I am having my Sunday morning vanilla latte, sitting in my favorite chair, looking at an empty city (everyone is at the papal Mass) and enjoying my new wireless home network. I think you understood me about 85%. The only key point missed was that bubbles are neccesary to fund the infrastructure. The point about Americans being 'best' had a little of my own agenda mixed in. With the popular press and politicians slamming 'American capitalism' every minute these days, I have written a series of columns extolling the virtues of the system. With American elections a few months away, I am mildly concerned that some silly law will get passed, in the name of populism, which would have the effect of causing a depression. I did not mean to ignore other centres of excellence like Singapore, Honk Kong and Taiwan. The Americans do seem to be quick at burying the dead. I find it helpful to look at 'the bubble' as two bubbles - the dot com bubble and the optical/IP network bubble. The second was 6X the first. I have come to the conclusion that the dot com bubble has burst, the dead and the silly are gone, and a healthy dot com industry is emerging. The (Sears, Woolworths, KMart, Walmart) of the Interet is clearly eBay. It could happen this quickly because there was no capacity overhang issue. The one advantage of having no assets. Enjoy the beach, Paul