Via the WSJ:
It’s only six months into the crash, but the stock market is already starting to make some early calls. The market isn’t a perfect seer of the future, but it has a pretty good track record. And a few of the calls it’s making now are challenging the conventional wisdom.
IPhone nation lives…Starbucks stock has now jumped 55% from the lows…Dotcoms strike back!
Historians note that many of the stocks which did best during the Great Depression were actually so-called “growth” companies, because they were the ones conquering the future. When a hurricane sweeps through a forest it knocks down a lot of the older, weaker trees. The younger ones survive and prosper. And so it may be in the economy.
The solution to our economic mess won’t be found in Washington or Wall Street. They caused the problems, but they’re not innovative enough to solve them. The solutions are in Silicon Valley, Mojave and other growing tech centers worldwide.