Linked by Howard Fosdick on Mon 19th Nov 2012 09:15 UTC
In the News Levi Asher offers his free memoir of his rise and fall in the dot-com boom of the late 1990s and early 2000s. The autobiography covers Asher's twenty-five years in programming: his founding of the oldest ongoing literature website Literary Kicks in 1994, his success with the dot-com website iVillage in 1999 (and its subsequent collapse), and how all this insanity affected his personal life. It's a quick, entertaining read.
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RE: Comment by deathshadow
by Alfman on Tue 20th Nov 2012 14:50 UTC in reply to "Comment by deathshadow"
Alfman
Member since:
2011-01-28

deathshadow,

"Of course what really went wrong is the same thing that continues to trash the economy to this day: Credit and debt..."

Your right, and the worst part about it is that the transition away from cash towards debt & mortgages have raised prices substantially such that those of us who would have been able to afford a house with cash can no longer afford the mortgage inflated prices. Houses are so expensive these days that for most of us the decision is between taking a mortgage that spans our entire life, or not having a house at all. It's become a tax on the working class, one which the wealthy collect and don't have to pay themselves.

Reply Parent Score: 2

RE[2]: Comment by deathshadow
by zima on Thu 22nd Nov 2012 18:25 in reply to "RE: Comment by deathshadow"
zima Member since:
2005-07-06

Maybe, maybe not?... http://web.mit.edu/krugman/www/ratrace.html

Either way, possibly an important factor is what kind of houses people want and/or expect - and they're a bit different than in the past.

Reply Parent Score: 2

RE[3]: Comment by deathshadow
by Alfman on Thu 22nd Nov 2012 20:23 in reply to "RE[2]: Comment by deathshadow"
Alfman Member since:
2011-01-28

zima,

"Maybe, maybe not?..."

Regarding inflation: Some prices have gone up. Others have gone down. There is a lot of wiggle room depending on how one chooses to define the CPI. The CPI is supposed to measure the price for maintaining a fixed quality of life, but the fed's been under pressure to manipulate the index for external purposes, which Alan Greenspan notoriously did during his reign over the fed. Here's a link for anyone who's actually interested.

http://www.shadowstats.com/article/consumer_price_index


Your link was from 1996, which is kind of ancient, I'm not sure how relevant it is today. Food prices have spiralled up, housing prices (even after the crash) are unaffordable, cars, gasoline, etc.

I read in the newspaper that our local food prices are up 30% over a two year period. I had already stopped buying things I used to enjoy due to price increases.

http://www.wnd.com/2008/03/59409/


"Either way, possibly an important factor is what kind of houses people want and/or expect - and they're a bit different than in the past"

That's true, but even so I think today's middle class is financially worse off than yesterday's middle class.

Reply Parent Score: 2