Holy Freakin' Hell!
So, I'm feeling good after selling off one of my cars yesterday, ahead of what I predicted, along with every other economist or person blessed with common sense, would be a sick recession in 2008. A couple thousand in my pocket, a money pit filled in and replaced. But then I awoke to this hideous picture:

That is Apple's five-day stock graph. It had reached a high of $200 around Christmas, but has tanked, in step with the overall economy, ever since. $40 billion in shareholder value has been disappeared, Abu Ghraib-style, over the last two weeks. And that, my friends, is our economy in microcosm.
Apple had been what gold and oil are for rich assholes: A safe haven for investment during a contracting economy. But if you didn't want to feel like a jerk, investing in destruction and hoarding, you put your money in innovation. Today, that is no longer the case. Everyone is running from innovation, and banking on fear.
And whether you like Steve Jobs or Bill Gates, it doesn't matter. A dollar put into Apple and Microsoft's coffers was one taken away from the fossil fuel industry, the disaster capitalism complex, the dystopia coming our way. But the bear is fully upon us now, and the only safe haven is the one that is driving us to a very uncertain future.
Don't enjoy the ride.
That is Apple's five-day stock graph. It had reached a high of $200 around Christmas, but has tanked, in step with the overall economy, ever since. $40 billion in shareholder value has been disappeared, Abu Ghraib-style, over the last two weeks. And that, my friends, is our economy in microcosm.
Apple had been what gold and oil are for rich assholes: A safe haven for investment during a contracting economy. But if you didn't want to feel like a jerk, investing in destruction and hoarding, you put your money in innovation. Today, that is no longer the case. Everyone is running from innovation, and banking on fear.
And whether you like Steve Jobs or Bill Gates, it doesn't matter. A dollar put into Apple and Microsoft's coffers was one taken away from the fossil fuel industry, the disaster capitalism complex, the dystopia coming our way. But the bear is fully upon us now, and the only safe haven is the one that is driving us to a very uncertain future.
Don't enjoy the ride.
Labels: apple, disaster capitalism, economy, global warming, hyperhighway to hell, peak oil, war on terror










































































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