Green the Bailout
September 28th, 2008The New York Time’s Thomas Friedman did an Op-Ed piece today on the bailout and made some interesting suggestions and insightful comments such as:
In the 19th century, America had a railroad boom, bubble and bust. Some people made money; many lost money. But even when that bubble burst, it left America with an infrastructure of railroads that made transcontinental travel and shipping dramatically easier and cheaper.
Followed by this:
The late 20th century saw an Internet boom, bubble and bust. Some people made money; many people lost money, but that dot-com bubble left us with an Internet highway system that helped Microsoft, I.B.M. and Google to spearhead the I.T. revolution.
And finally this:
The early 21st century saw a boom, bubble and now a bust around financial services. But I fear all it will leave behind are a bunch of empty Florida condos that never should have been built, used private jets that the wealthy can no longer afford and dead derivative contracts that no one can understand.
Worse, we borrowed the money for this bubble from China, and now we have to pay it back — with interest and without any lasting benefit.
For the complete piece jump here Op-Ed Columnist - Green the Bailout - Op-Ed - NYTimes.com
Google Docs, etc.), some are for fun (Amazon Music, Amie Street, etc), and some are useful for both (Digg, Skype, YouTube, etc.). But I use most of them every day, or nearly every day, and I would not be as productive or happy without all of them.” “Five products have been favorites all three years (Flickr, Netvibes, TechMeme, Skype, Wordpress). Five more were favorites last year and this year, but not in 2006 (1-800-Free-411, Amie Street, Digg, Gmail, YouTube). Two were off the list last year but are back now (Delicious, Technorati). And there are seven new products on the list (Amazon MP3 Store, Facebook, Firefox, Google Reader, TripIt, Twitter, Zoho).”