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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: paul_philp who wrote (4447)	8/13/2002 3:49:05 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

your article: most thought provoking I have read in years I found your many points to be fascinating and irrefutable not to mention so very timely, when many wonder about waste the timeframe for realization of the newly fertilized seedbeds is in question just like after a devastating forest fire, the nutrients in the soil are beyond question to be perfect for renewed growth in 1999, I read Geoffrey Moore's Gorilla Game the extended technology and discontinuous technology concepts are fascinating too bad we develop these great advancements within such horribly tainted (if not crippled) financial system no question that technology leaves much behind for the next phase of economic growth and efficiency but our financial system is in tatters, and to get worse it may be a few years before the environment is ripe for germination we disagree on Vienna School, fine if Vienna is off, then explain why the last 10 years have been the most tumultuous in the history of the financial world we are not climaxing, only to recover we are experiencing escalating earthquakes, only to build to crescendo the next few months will convince you that von Mises and Richebacher possess the more accurate view of the financial landscape, despite their austerity the insanity of the last 20 years with printed fiat currency has now developed into a problem that will take a great deal of time, pain, liquidation, repair of balance sheets, restoration of appropriate spending patterns, return to sane credit usage, and renewal but my guess is that controlling political forces will interfere to screw it up more than it already is, as they desperate attempt to forestall the inevitable economic contraction with turmoil that awaits us every attempt by Greenspam to avert troubles have resulted in sheer shifting of bubbles watch the dollar, and observe the absolute wreckage ahead how is the wreckage so far? Viennese predicted this wreck for a while now the dollar is flawed the banking system is flawed with fractional nature foreign banking systems are flawed with USTBonds replacing gold the CB gold leasing system is flawed in its entirety extended credit represents a level of financial insanity never witnessed on earth before the critical Venture Capital world has virtually disappeared the entire lending credit world is at a standstill this will be interesting but in the meantime, after the balance sheets are repaired (willingly or by force), we have much to expect with the seeds of future technology in place I just happen to believe the seedbed will be torched more than you do nothing like a worldwide banking and currency crisis to convince you stay tuned, we are only about 15-20% along the path dont you find it disturbing and disconcerting that the very technology you refer to in your article is mired within the largest scale bankruptcy, liquidation, and excess capacity environment and controversy in our nation's history ??? fast growing tech firms are perhaps the most abusive with extension of credit, reporting of pro-forma profits, abuse of dilutive stock options, and more the very companies with vast advantages in technology prowess are caught in a web of financial accounting deceit the majority of culpable parties are New Economy plenty are tagalongs within telecom, etc but I could rattle off 20 names of companies, all of whom have subverted their technological intellectual property with massive financial fraud, deception, and credit abuse such financial practice is the opposite of what innovators would seek I just wish the competence you display in technology evolution was matched in our financial leadership if you cheat technology, the device just wont function if you cheat financially, then the masses are cheated of their life savings, and the system risks implosion over time I watch with a strange combination of eagerness, horror, and glee / jim