[quote=deadzone]Most of the wealth produced in the last 20 years was due to the ponzi economy.
Going forward, outside of inheritances, there will be fewer people with large wealth increases than over the last 20 years or so.
…if you can’t see this you are blind.
[/quote]
I don’t know if I agree with this. Heard of Amazon, Qualcomm, Ebay? Even Yahoo at one point was doing quite well.
I remember someone bemoaning in like 2000 that all the cool things on the internet had already happened, all the opportunities were gone. Uh, this was pre Google. Oops, I guess there were a few opportunities left.
Heard of Pixar? Is that ponzi? What about Apple? Folks *are* buying their physical products, and their digital products.
Recall the famous quote of some guy in the patent office in the 1800’s that everything had already been invented. Uh, oops.
Do you think “it’s different now”? I don’t. All the defeatist attitude ensures is that it will be someone else who capitalizes on opportunity, not you.
We’ve got 300 million bored, greedy, spoiled, mostly educated folks here, with the best universities in the world and some semblance of the rule of law. I think that will be a recipe for continued wealth for some segment of our population for awhile yet.
I do worry about our entitlement mentality and what all our overly-educated folks will actually *do*, but it seems to me those things will work themselves out. I think Greed or Keeping up with the Joneses, all driven by our overactive media and marketing and advertising, will continue to ensure that a large percentage of the 300 million continue to reach for the brass ring.
That striving will result in the entrepreneurship, labor, economic activity, saving, etc. that we need.
Perhaps you’re just in the doldrums DZ. Things will get better! If worse comes to worse, we can just make and sell things to the Chinese once they become wealthier than us. Think of how big that market will be if they develop a middle class.
