Word: internetting
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...markets safer. (Certain restrictions of Glass-Steagall were repealed to allow the merger of Citicorp and Travelers. Let's just say that didn't end well.) "That was the single moment when the seeds for the bad stuff were planted," says Brands. "There was a belief that technology, the Internet and financial instruments had changed things, and the ones selling this idea and these instruments were making a lot of money...
Companies go belly-up all the time, but in this decade there were an inordinate number of bankruptcies. The creative destruction of the Internet had a part in this. While the Web opened up new worlds and created thousands of jobs at Amazon, Google and the like, it displaced workers at travel and government agencies, at newspapers and magazines and at stores like Circuit City and Tower Records - traditional distribution points for services, information and goods. Economists call that disintermediation. (See pictures of retailers that have gone out of business...
...also recall that the stock market usually mirrors political and economic trends. When the future appears to be stable and certain, the market moves up. When unexpectedly positive events occur, like the Internet boom in the 1990s, stocks produce above-average returns. This decade, the surprises were mostly negative, which drove the market lower. At some point, unanticipated positive developments will again drive the market higher: perhaps a sustained easing of tensions between the West and radical Islam, breakthroughs in green technology (think energy sources) or something completely unimagined. If we were too positive heading into the 2000s...
...oldster passes a stand where auteur Honey is doling out autographs and promoting Ben Dover-branded merchandise. Honey explains that he has diversified since people started giving away porn for free on the Internet, rendering his filmmaking economically unviable. He has even developed a one-man show: Ben Dover - Innocent Until Proven Filthy, in which he pokes fun at "porno-land vs. reality. In porno-land, pizza delivery is a great job." The erotica show may draw the crowds, but there's no danger that Britain will ever be the natural home of eroticism. There's also no danger that...
...Tuesday, Nov. 10, former Student Affairs Committee Chair Tamar Holoshitz ’10 had an Internet chat with former UC Vice President Randall S. Sarafa ’09, in which he told Holoshitz that VP candidate Hysen, the technical director for the UC, had the passwords to access the voting software...