Adam Ash

Your daily entertainment scout. Whatever is happening out there, you'll find the best writing about it in here.

Thursday, March 10, 2005

More proof how economically fucking fucked we are

As a former stock player who in 1999-2000 got rich in 5 months and then poor in 3 weeks, I read this article about the bubble, apparently still with us, with great interest. "Five years ago today, Cisco Systems was the world's biggest company by market capitalization. Its line of business, the computer networking business, was universally heralded as the industry of the future. Owners of Cisco still devoutly hope it is. They have lost 75 percent of their investment. Americans hate to lose, and they've demanded an accounting of the misdeeds of the bubble era. A certain number of former chief executives, like Bernard Ebbers of WorldCom, have had to answer the charges against them in court. And Congress, in 2002, overhauled and stiffened the nation's securities laws. But the chairman, governors and staff of the Federal Reserve have yet to be called to account." More. All I can tell you is I was a sucker. I got taken. If I had money today, what would I invest in? Real estate? Apparently that's a bubble. Tip: Warren Buffett has all this cash he doesn't know where to invest. We're too fucked for him to invest in us. What would I do if I had a little money? Take my girlfriend to a nice restaurant every now and then; buy an extra pair of sneakers; visit my sister in Paris; build a snazzy website. Let's see if my novel gets bought. I sincerely hope that, whatever ship you have, it comes in.

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