As the Dow sinks into oblivion today, it strikes me that the only real money is ever made during ridiculous asset bubbles. The dot-com bubble of 1999-2000, the home-price bubble of 2002-2007, the grand old South Sea and Dutch Tulip bubbles. As long as you got out in time, you made serious coin.After all, regular savers always seem to get shafted. The Protestant ethic of work-hard-and-save seems to have been blown apart in this latest meltdown, when savings-account interest rates have approached zero and stock portfolios have been totally obliterated. Bubbles even destroy those who haven't really participated in them.
Well, if you can't beat 'em, join 'em. Let's create a crazy asset bubble, and then get out while the getting is good. And why not Indonesia? Let's pump the idea that Indonesia is the Next Big Thing, drive the Jakarta Index into the stratosphere, and then cash in our chips and go live on a private island somewhere with a lifetime supply of mai-tais. Who's with me?
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2 comments:
I'm with you.
Now if I only had money to invest in this bubble, we'd be all set ...
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