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You wrote:
> We all know we're in the middle of the information/communications
> revolution. The countries that can harness and exploit such
> technology will have the highest standard of living (and the
> highest stock markets) in the future. US computer/technology
> companies have been hurt by the problems in Asia, but in the long
> run it's going to help the US dramatically. Most of the components
> in computers are made in Asia, and therefore the meltdown there
> (and the strong dollar) has caused a collapse in computer prices.
> Apple can't keep their new IMac machines on the shelves. The
> percentage of US households which owned computers had been stuck at
> 44% for some time. The lower computer prices have now driven that
> number to about 47%, and by the time the Christmas shopping season
> is over, the figure will probably be over 50%. No other country is
> even close.
Bruce,
I agree that the mainstream media does tend to focus on the
negative, or more accurately, on what the popular concensus happens
to be at the time. In doing so they intensify the sentiment, not
just report the facts.
I have to disagree with you however concerning the rosey high-tech
services economy picture that you're painting. A services economy
chock-a-block with computers and instantaneous information on the
web is all very well and good... but a services economy is useless
without an economy to service! We can't base our entire GDP on
selling each other hamburgers or trading our stocks from the web.
Additionally, if the global economy experiences a severe slowdown,
all those computers and services will go unused and unsold, because
there will be no one in the domestic or foreign economies to buy the
goods that the service economy makes available.
Now I don't really believe it will be *that* bad forever, but I
think that the writing is on the wall... nations must reform their
economies AND their governments in concert or they will go under...
just as Russia is doing right now. Speculative bubbles don't cut
it. Empty products or services that provide no long-lasting value
are also history.
- Hacker
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Dark Hacker | Fortress Of Computation
mail: hacker@xxxxxxxxxxxxxxx | web:
http://www.computation.com/pub/hacker/
Investment and Market Outlook:
http://www.computation.com/pub/hacker/Investment/index.html
Bishop Protein Analytics:
http://www.computation.com/pub/hacker/Bishop/index.html
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