There are some economists who say that the armaments build-up was itself the way the world got out of the 30's recession.
Right, and I don't get the theory. If that works, why don't we build 14 billion unneeded refrigerators, and dump them out in the middle of the Atlantic? Economics is as much a mystery as the human psychology it is made of, eh?
Hindsight is 20-20, but looking over the last 15 years it's kind of remarkable few of us saw this coming, given that's it's happened before.
I made a windfall in the net bubble, and I sure didn't worry about it, but went YEA, WHOOPEE!
After the net bubble popped I was talking with a friend who sells real estate. The housing bubble was then heating up and he was going wild and making tons of money. And of course I had to say, "Well, you know, this bubble will pop too" which was hardly what he wanted to hear.
But, even though I knew the bubbles were bubbles and would pop, I didn't think it through as to what would happen next. I guess I assumed things would just go back to normal, which seems quite silly now.
There are lots of lit dynamite fuses burning around the world right now. Any damn thing could happen next.