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


To: TobagoJack who wrote (26355)12/19/2002 11:28:16 PM
From: GraceZ  Read Replies (3) | Respond to of 74559
 
… or maybe, more correctly, real wealth is idle money and gold sitting in a bank vault, and real value comes from what you do with the idle real wealth. This revised explanation may seem a small variation, but important, as you will see later.

Jay, people don't do great things when they have money, they are spurred on to do great things trying to get money.

The gossamer-like tech companies are quickly disgorging just about all of their alleged shimmering profit supposedly accumulated over the past five solid years. Give them a little more time, and all will be revealed, as ugly entrails pour forth on to the pavement from opened bellies facing the light of the warm sun.

All the failed tech companies provide the cumulative experience to create the ones that do succeed. Failure is an integral part of the process. Technological failure tells us what doesn't work, the knowledge gained can't be lost because every successful advance is built from the ashes of the failures that came before. Plus the technology remains even if the businesses that tried to profit from it fail. You see a landscape of wasted resources and squandered capital but I see myself commuting to work on a vast highway made of light waves, completely free of my automobile and it's dirty dependence on oil.

I would imagine the ever lovable Average American J6P, especially the politically incorrect faction of the branch of Boobus Americanus with who I identify with, a term stolen from www.dailyreckoning.com, would much prefer to adopt my fantastic vision of wealth … idly meandering amongst coconut palms, fringing a blue lagoon, dotted with thatch-roofed huts cooled by antique electric fans, summer all year round, connected by broadband and satellite com, and simply complemented with oodles and boodles of Caterina, Jade, Veronique, Ursula, Jasmine, Etsuko, Suzie, India, all frolicking in an ambient temperature and gently surfing water, swaying to the undulating beat of "do that to me again and again", with Gretchen and Gloria back at the open-air kitchen preparing sandwiches and mixed drinks, and Alexus carefully filtering home-made beer through an ice filter held up by Kiki, standing next to Kimiko, searing some Kobe beef on the grill.

People have this vision of tropical paradise, it doesn't exist. Move to paradise and it disappears like any other mirage you see off in the distance, as you approach it you see it dissolve into thin air.