Holy Moses, We're Bored and Out of Shiny Objects
Rich Karlgaard of Forbes likes to continually beat the drum (and is mostly correct, I think) that our saving grace is innovation. Pointing repeatedly to the fact that FedEx, Microsoft and other hugely innovative and successful companies grew out of the recessionary 1970's. Taking that thought and mixing it with Rubel's observation regarding the dearth of innovation occurring in the world today does this mean that prosperity is not in the immediate future or is this simply an indication of a bottom in the innovation market? Is the next game changing technology waiting to be exposed or is there a flat period forthcoming where the current technology is absorbed completely into our lives?
My emotions and the economists I read tell me it is the latter. Hopefully that in itself is a sign of the market bottom.
