The Coming Internet Depression: Very Good Reading
October 4, 2000
I typically scoff at such large, bearish prognostications, but after reading a "teaser" on this latest book, I am convinced there is some very important thinking here on just how the current boom can come crashing to an end. Most importantly, the author argues that the same characteristics that made the the 10-year economic boom work, will be the same that can bring the economy to its knees. Although the predictions are quite dire, this book seems to also do a great job at explaining what makes the New Economy work so well too....
Finally the book suggests that it ALWAYS takes government intervention to cure the economy of the ills of busts. To me, this suggests that if Republicans win this November, with their hands-off, low-government attitudes, we could be in for some real trouble...
If you read no other economic analysis this year, read THIS excerpt. I am serious! Really! Tell me what you think.
(I suspect this link will only work for a limited amount of time....) http://abcnews.go.com/sections/business/DailyNews/net_depression_part1.html