I remember going out for dinner and your waiter/waitress starts talking about the next .com IPO. One SF Chronicle article in particular talked about how people were offering landlords stock options in lieu of rent.
We got nailed double hard because the dot.com bubble was actually two bubbles. One was a technology bubble, as people were trying to figure out how to monetize the information age, the other was a monetary bubble caused by the Federal Reserve banking system loaning so much money into the system that stocks blew thru the roof. The technology side eventually got redirected into things like Google and open source, the monetary side got re-directed into the housing market. Now the housing market is about to drop thru the floor while the technology is about ready to explode. The US is definitely birthing into the information age, and things that attempt to control information like fiat money manipulation and copyrights are going to get ripped to hell.One thing is for sure, all freaking hell is going to break loose. I predict that in 10 years the copyright system and Hollywood will be dead and open source p2p technology will be a raging economic fire. The US dollar will have collapsed as a currency, most financial institutions in the US will have collapsed, and 95% of houses will cost less than 6 months average pay. US society is about to go thru some shock therapy not seen since the civil war.
I think the legend has it that Joseph Kennedy (son of John F. Kennedy) had stopped to have his shoes shined on the way to the J.P. Morgans offices sometime in 1929. While having idle conversation during the shine, the shoeshine boy suggested he buy RCA stock because "they were hot". Kennedy continued to the offices whereupon he sold everything. Purportedly, he told his wife: "When the shoeshine boy starts giving you stock tips, it's time to get out of the market."
yllabianbitpipeMar 11, 2007
I remember going out for dinner and your waiter/waitress starts talking about the next .com IPO. One SF Chronicle article in particular talked about how people were offering landlords stock options in lieu of rent.
Closed AccountMar 11, 2007
Bigcat...and yet many, MANY people actually blame it on Bush.
argoffMar 11, 2007
We got nailed double hard because the dot.com bubble was actually two bubbles. One was a technology bubble, as people were trying to figure out how to monetize the information age, the other was a monetary bubble caused by the Federal Reserve banking system loaning so much money into the system that stocks blew thru the roof. The technology side eventually got redirected into things like Google and open source, the monetary side got re-directed into the housing market. Now the housing market is about to drop thru the floor while the technology is about ready to explode. The US is definitely birthing into the information age, and things that attempt to control information like fiat money manipulation and copyrights are going to get ripped to hell.One thing is for sure, all freaking hell is going to break loose. I predict that in 10 years the copyright system and Hollywood will be dead and open source p2p technology will be a raging economic fire. The US dollar will have collapsed as a currency, most financial institutions in the US will have collapsed, and 95% of houses will cost less than 6 months average pay. US society is about to go thru some shock therapy not seen since the civil war.
quanta88Mar 11, 2007
I think the legend has it that Joseph Kennedy (son of John F. Kennedy) had stopped to have his shoes shined on the way to the J.P. Morgans offices sometime in 1929. While having idle conversation during the shine, the shoeshine boy suggested he buy RCA stock because "they were hot". Kennedy continued to the offices whereupon he sold everything. Purportedly, he told his wife: "When the shoeshine boy starts giving you stock tips, it's time to get out of the market."
wassim2kMar 11, 2007
I remember a news story on TV about .com singles. They met at a hip cafe and all they could talk about was B2C and B2B. I doubt anybody got laid.
wassim2kMar 11, 2007
I bougth a stock at $4.44; it's now worth $0.003 and Scottrade won't let me sell it because the trade cost would be higher than the returns.
duck_oilMar 11, 2007
Getting technical here it's more like 17.4% compounded yearly.