Sunday, March 15, 2009
Hope Springs Eternal
Well, this ain’t a long drawl about some pressing issue, presented so as to link up beautifully with the idiom ‘hope springs eternal’, resulting in an oh so apt title ‘hope springs eternal’. Nope. At least not this post J. I have accidentally bumped into the phrase on quite a few occasions in the recent past, and it seems to me a fruitful activity recounting the circumstances involving each one of them.
1. “Hype springs eternal” Paul Krugman, “Return of depression economics”, writing on the stock and housing bubbles of this decade. He talks about the IT boom of the 90s-Pets.com, the promise of one Microsoft for every investor, Alan Greenspan’s extreme optimism, and the other froth stirring hype which led investors to forget there was not so much substance beneath the froth. Pets.com died 9 months after conception- $83MM IPO in Feb 2000 to liquidation in Nov 2000. And fast forwarding to today’s situation and on a related note, AG’s comments in 2004 are really amusing in the light of what has happened since; “ Not only have individual financial institutions become less vulnerable to shocks from underlying risk factors, but also the financial system as a whole has become more resilient”. If the guy on top of the pyramid can go so utterly wrong, well, it gives one an idea of how complex and non linear economics and world commerce has become.
2. “Hope springs a kernel” Denny Crane, Boston Legal. Alan Shore and Denny Crane philosophizing on the balcony, with the customary glass of scotch in one hand and the cigar in another. Cut to Scene. As Alan ponders over the disturbing event of the murder of an innocent man, and how wonders aloud about how all hope is lost, Denny pipes up, ”Hope springs a kernel”. And further explains, how it is an old farm saying and how corn farmers use the saying to great effect. And on the mistake being pointed out, nonchalantly waves it away offering mad cow disease as the reason. Very, very funny, the part was.
3. “Hope springs eternal” Boss. Work. Ah well, not the most interesting of the three. Talking about how the bank is in big trouble today. And how outlook is grim. But how we should still be chirpy and buoyant, because “...”
1. “Hype springs eternal” Paul Krugman, “Return of depression economics”, writing on the stock and housing bubbles of this decade. He talks about the IT boom of the 90s-Pets.com, the promise of one Microsoft for every investor, Alan Greenspan’s extreme optimism, and the other froth stirring hype which led investors to forget there was not so much substance beneath the froth. Pets.com died 9 months after conception- $83MM IPO in Feb 2000 to liquidation in Nov 2000. And fast forwarding to today’s situation and on a related note, AG’s comments in 2004 are really amusing in the light of what has happened since; “ Not only have individual financial institutions become less vulnerable to shocks from underlying risk factors, but also the financial system as a whole has become more resilient”. If the guy on top of the pyramid can go so utterly wrong, well, it gives one an idea of how complex and non linear economics and world commerce has become.
2. “Hope springs a kernel” Denny Crane, Boston Legal. Alan Shore and Denny Crane philosophizing on the balcony, with the customary glass of scotch in one hand and the cigar in another. Cut to Scene. As Alan ponders over the disturbing event of the murder of an innocent man, and how wonders aloud about how all hope is lost, Denny pipes up, ”Hope springs a kernel”. And further explains, how it is an old farm saying and how corn farmers use the saying to great effect. And on the mistake being pointed out, nonchalantly waves it away offering mad cow disease as the reason. Very, very funny, the part was.
3. “Hope springs eternal” Boss. Work. Ah well, not the most interesting of the three. Talking about how the bank is in big trouble today. And how outlook is grim. But how we should still be chirpy and buoyant, because “...”
Labels: Musings
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