A Quote by Adam Cohen
When tulip mania dies down, all that remains are pretty flowers. When bubbles burst, nothing is left but soapy residue. But the Internet revolution, for all its speculative excesses, really is changing the world.
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Concentrating wealth in the hands of the few and deregulating financial institutions and practices lead to speculative bubbles that eventually burst — and that brings the whole country down.
Concentrating wealth in the hands of the few and deregulating financial institutions and practices lead to speculative bubbles that eventually burst - and that brings the whole country down.
When April winds
Grew soft, the maple burst into a flush
Of scarlet flowers. The tulip tree, high up,
Opened in airs of June her multitude
Of golden chalices to humming-birds
And silken-wing'd insects of the sky.
As long as you have markets, you'll have excesses. People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started. I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.
I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.
Bubbles are best identified by credit excesses, not valuation excesses. And there's no bigger credit excess than in China.
Life and death are nothing but the mind. Years, months, days, and hours are nothing but the mind. Dreams, illusions, and mirages are nothing but the mind. The bubbles of water and the flames of fire are nothing but the mind. The flowers of the spring and the moon of the autumn are nothing but the mind. Confusions and dangers are nothing but the mind.
You can go back to tulip bulbs in Holland 400 years ago. The human beings going through combinations of fear and greed and all of that sort of thing, their behavior can lead to bubbles. And it may have had and Internet bubble at one time, you've had a farm bubble, farmland bubble in the Midwest which resulted in all kinds of tragedy in the early '80s.
The beauty of religious mania is that it has the power to explain everything. Once God (or Satan) is accepted as the first cause of everything which happens in the mortal world, nothing is left to chance ... or change. Once such incantatory phrases as "we see now through a glass darkly" and "mysterious are the ways". He chooses His wonders to perform" are mastered, logic can be happily tossed out the window". Religious mania is one of the few infallible ways of responding to the world's vagaries, because it totally eliminates pure accident. To the true religious maniac, it's all on purpose.
Nothing remains great without a capacity to change and to accommodate the conditions of a changing world.
The beauty of religious mania is that it has the power to explain everything. Once God (or Satan) is accepted as the first cause of everything which happens in the mortal world, nothing is left to chance...logic can be happily tossed out the window.
Eternity has no gray hairs! The flowers fade, the heart withers, man grows old and dies, the world lies down in the sepulchre of ages, but time writes no wrinkles on the brow of Eternity.
In the '70s, Leo-mania was the equivalent of Beatle-mania down there and they still love me. In Australia they still want heroes.
It's there. The white rose among the dried flowers in the vase. Shriveled and fragile, but holding on to that unnatural perfection cultivated in Snows greenhouse. I grab the vase, stumble down to the kitchen, and throw its contents into the embers. As the flowers flare up, a burst of blue flame envelops the rose and devours it. Fire beats roses again.
My background is in art. I was a painter and an occasional sculptor, and I really like materials - you know, stuff. Physical objects. The world and the trees and the sunshine and the flowers. And all of that doesn't seem to really exist out in the ether of the Internet.
I think one has to understand, not as a theory, not as a speculative, entertaining concept, but rather as an actual fact - that we are the world and the world is us. The world is each one of us; to feel that, to be really committed to it and to nothing else, brings about a feeling of great responsibility and an action that must not be fragmentary, but whole.
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