Monday, December 10, 2007

Bubble? What Bubble?

I found this on the web today:

I think it's pretty genius. Not only because I like "We Didn't Start the Fire," as crazy annoying as it is, but because there is so much truth to it. I worked on a documentary film a couple years ago called "Caught in the Net." It looked at people whose careers had been hugely affected (for good and for bad) by the explosion about 5 years or so after the initial tech bubble burst. In working on that film, my classmates and I discussed bubbles in general at great length. At the time, I argued that real estate was in a bubble. At least 1/2 of the class vehemently disagreed with me at the time. It's amazing that as one thing busts (real estate), a new one inflates (oh look, my Myspace page has 40,000 friends!). Amazing. There must be something in human nature (or perhaps more accurately our American psyche) that is attracted to that "next big thing." You'd just think that after a few times being burned, we'd wizen up. Oh well.


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