We are all bruce. Yeah. Wrong bruce.
But then again this treatise has a lot to recommend against - entirely besides
my visceral reaction + generally low opinion of schneier.
Claiming that the entire system has rotted and needs to be replaced, and that
stateless actors and no future for organized currency is an old, old theory.
And it is a theory that's kind of gained a lot of support after a lot of the
world has alternated between misrule and extremist / socialist planning, and
the US on the other hand swung towards laissez faire capitalism.
Obama certainly isn’t introducing a planned economy but a lot of grafters who
have been abusing the system are certainly being reined in. And still other
grafters in the madoff class have gone bust, taking artificially inflated
things back to a more sane level.
So - hyperinflation cools off, oil prices are at a level that's reasonable for
the first time in nearly five years, the real estate boom cools down .. and
people learn to be a bit more thrifty, especially without a bunch of banks
trying to sell them mortgages and then repackaging the mortgages into extremely
silly futures [which by the way were marketed by the likes of FNMA as
equivalent to tbills .. they certainly weren’t]
The arguments he needs to look at are for cleaning house - which is certainly
on. And expecting the world to slide down to the level of somalian pirates, who
live in a country where dictatorship has been replaced by anarchy, .. well, I
guess there would be a reasonable sequel to mad max based on all that.
srs
> -----Original Message-----
> From: [email protected]
> [mailto:[email protected]] On Behalf
> Of Udhay Shankar N
> Sent: Sunday, February 01, 2009 12:42 PM
> To: [email protected]
> Subject: Re: [silk] Bruce Sterling's State of the World chat
>
> Suresh Ramasubramanian wrote, [on 2/1/2009 11:02 AM]:
>
> >> If cash becomes king, what happens when market forces smash the cash?
> >> Was that inky paper really, truly supposed to be worth more than
> real
> >
> > He might write a good dystopian novel. But that screed is not
> informed
> > commentary on anything except crypto. Even physical security .. like
> TSA -
> > he cant resist descending into security theater to prove "that he can
> waltz
> > through security so it shouldnt be around at all".
>
> I suspect you have confused Bruce Sterling with Bruce Schneier.
>
> Udhay
> --
> ((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
