Re: The shock doctrine
On Sep 16, 2007, at 2:25 PM, Robert Wrubel wrote:
For a current example, I would think the sub-prime mortgage bubble indicated there was more capital needing to be invested than there were profitable and safe opportunities for it.
Do you have any idea how many bubbles there have been in the history
of capitalism? Lehman Bros. recently came up with a count of more
than 60 since the Dutch tulip bulb mania, half of them since 1900.
The stuff that went on with railroad securities in the U.S. in the
late 19th century makes today’s goings-on look mild.
Doug