Re: BOOK REVIEW: The decline of the US economy



On Thu, 22 Dec 2005, rrcolby@xxxxxx wrote:

Straydog wrote:
On Thu, 22 Dec 2005, rrcolby@xxxxxx wrote: 
Well... you know my stance on anything nano. Nano is the biggest snow
job in July this century. Nano's greatest contribution is stain
resistant pants which is essentially applied chemistry/chemical
engineering and/or solid-state physics, fields with essentially minimal
long term employment opportunities and with a bulk of its core jobs
being shipped to one of the BRICs or BRUKs. Give it ten years and the
rest of the world will be developing nano products for American
consumers.


Well, I'm ready to claim its all hype, too, but there is a lot of nano
tech in cell phones, thumb-sized hard drives, large memory in small
packages (for d-cams), RFID chips, and stuff of that nature.


I'd contend that that's solid-state microtechnology, as oppose to the
nanotechnology envisioned by faux scientists like Drexler. And that's
being offsourced.

Labels, labels, you can put a label on anything today and if its a hot label, chances are the gulible public will pay more for it.


Though 
they can't do anything about creating new industries stateside, they
can at least play banana republic games on interest spreads and under
the counter swaps to keep markets afloat.


The amount of phoney money keeps growing. The day it goes bubble, you'd
better be close to your chair when the music stops.

Is that a pile of gold ingots?

Hedge funds, collateralized debt obligations, swaps, straddles, futures, etc., etc. and plain old fractional reserve banking.


.