I call foul. Someone has to do it. Qaz, old friend, are you okay? I always enjoy your posts but this time you went completely off the rails. but ... Hmm ... 437 recs so far; maybe it's me that woke up off the rails. :)Let's find out, shall we?____I submit that banking crisis are a symptom of normal economic cycles and that the troubles are not causes be evil people so much as that they are caused by people being human.I submit that this crisis was caused by greed, corruption and lack of proper regulation. The mortgage originators and banks KNEW without doubt that they were making bad loans which blows your theory to smithereens.____When the automobile came out, the demand for grain fell, and the underlying value of the loans made to purchase farm land fell. Thus a banking crisis.I submit that this is way, way different. The industry in question is the very banking industry itself. Not hardly the same thing, methinks.____The problem with bankers is that they make loans on what has been proven to be safe.Wow. Where in the heck did you come up with that one, my friend? The mortgage originators and banks KNEW without doubt that they were making bad loans. That isn't just 'people being people' in my book.____...the problem is that the technology and business ideas that made Detroit, ceased to be the wealth generators that they were.I think you're dead wrong. I think the auto industry shot itself in the foot, and maybe, just maybe, the employees' unions had a small hand in the failure? I'm not blaming them, mind you; I'm just disputing your theory with a few thoughts I suspect you have overlooked. And, uh, the last time I looked, the automakers were making record profits once again, just a few short years after they went, according to you, the way of the horse and tyrannosaurus rex. I wonder, just how does that plug into your theory?____With Facebook being the latest and greatest technology company now, why would you wonder about the falling real estate values in California? What the heck does that mean? Tech is now outdated? No longer profitable? Perhaps we should step back and look at the biggest corps in the world and see what they do? And if tech is dead, don't tell the Apple Fan Boi's Club! :) I posit that California real estate and politics are unquestionably crazy. How's that for scientific? :)____I hear people bleating about the high taxes and high regulation in California, BAH! HUMBUG! There were high taxes and high regulation when Silicon Valley got its start. BAH! I call BULL$HIT! I opine once again that California real estate and politics are unquestionably crazy. (Maybe the voters too.) :) Which has nothing whatsoever to do with regulations for Silicon Valley.____No the problem with California is: the wealth generators is finished and the baton is being handed off to something else.What wealth generators? Tech? Or, Real Estate? If the latter, what do you expect would happen when Mexico moved its citizens to California to pick crops for less than minimum wage? Should house prices double again because of the trend? (Apologies to my Hispanic friends, who know darned well exactly what I mean and whom I trust would agree in spirit.) Again, this has nothing to do with your purported theory.____These transfers of power between technologies and localities always cause upheavals in the banking industry,it is almost a requirement because banking is a backward looking industry.Once again, the industry in question is not just affected by the crisis, they were the crisis! Surely we can agree on that? I guess not, you think it's a case of 'people being people.' That's tough to swallow, friend.____Just like wealth creation gets handed from technology to technology, wealth creation gets handed from society to society.You just don't see the world the way I do, and that's fine. I see it as the financiers trying to take ALL the chips in the game and not only that; they also believe they are ENTITLED to them. ARGH! People being people? I don't want to live on that planet.____As investors, we should not focus on what was, rather attempt to find what will be and buy into it.Wonder of wonders, I agree! Since that is the nut of the argument, I have to tell you I totally missed out on what the next big thing will be. Please remind me. I have tons of cash in ports now, so ... What was it, again?____You know I luv ya, man, but you simply must come up from the Rabbit Hole to reality before you post next time. You know, like you usually do. :)Dan
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