Every age has its own Tower of Babel to defy the Creator to demonstrate superiority of humanity over the Deity, a continuation of an ancient battle between Lucifer and God. This never-ending battle was redirected to the Biblical Garden of Eden, where Lucifer, now Satan, seduced Adam and Eve into believing they could be the equal of God, and know good from evil.
Lucifer failed to overthrow God in Heaven, so he shifted to a softer target in the Garden of Eden, Paradise on earth, wherein he seduced our most ancient ancestors, Adam and Eve. Satan resorted to schadenfreude, the satisfaction or pleasure felt at another’s’ misfortune; exaltation of Satan over God demonstrated by souls stolen from God to become chattels of Satan and his ungodly empire.
Human knowledge expanded over millenniums to the point that humans in the 21st Century drift away from the Creator God, due mainly to the geometric explosion of technology that contributes to the Intelligentsia mentality of superiority that needs not be dependent upon the Maker who is mocked and disrespected; dissed in Ebonics of the street jargon illiterate.
Some 6,000 years ago, The Bible said that though all rivers flow into the seas but the oceans never overflow, as the water returns to its source to continue its circulation around the globe. Why is the Bible such a terrible politically incorrect despised book when it has knowledge science only discovered in relatively recent years? How does Al Gore justify his Global Warming, renamed Climate Change that if the polar icecaps melt, the oceans will rise by, name any number of feet.
Modern dependency upon technology in lieu of dependency upon a Supreme Being, source of all, may be a bubble waiting to burst, as they all do, sooner or later. “‘Til Death Do Us Part,” or more accurately, “'Til Technology Do Us Part,” may be the Waterloo of modern culture and society. Axioms in the sports world include “Live by the pass; Die by the pass…Live by the three point shot; Die by the Three point shot.” Accordingly, “Live by technology: Die by technology.”
Examination of every boom that goes bust is typified by the Holland 1634-1637 Tulip Boom. Investopedia.com reports, “At the peak of the tulip market, a person could trade a single tulip for an entire estate, and, at the bottom, one tulip was the price of a common onion.”
21st Century technology is weighted heavily in favor of social media led by FaceBook, Twitter, YouTube, LinkedIn, Dating sites etal, comprising over a hundred social media time-consuming hogs, seemingly a new entry each week developed by the Mark Zuckerberg wannabes. Social Media is the new bridge to the heavens riding on the “Cloud,” making all into false gods, ignorant of the historical fact that what goes up must eventually come down, satellites and all.
One little satellite glitch, accidental or by design, will bring the entire energy dependent device technology to a screeching halt, with nowhere to go; nowhere to hide; not able to open car doors, start automobiles, pump gas, or recharge the savior electric vehicles. What name will be assigned to this burst “Satellite Bubble?”
Crises during the 2000s included oil, energy, government takeover of mortgage behemoths Fannie Mae and Freddie Mac that created NINJA loans, “No Income, no Job, no Assets; NO PROBLEM” subprime mortgage loans that added air for the housing market bubble. Non-qualifiers were encouraged to buy any house, at any price, and by the time the first mortgage payment comes due, flip-sell the property, take the profit, and do it all over again. “If it seems to be too good to be true, it is too good to be true.”
Recent bailouts included government housing mortgage generators, banking, automotive, insurance guarantors, auto manufacturers GM and Chrysler, before reality set in with the bursting of the bubble resulting in “The Great Recession” that lingers long past the ten to twelve months average cyclical time of recent U.S. recessions between 1945 and 2001.
Bubbles have come and gone, lived their limited duration, then burst into nothingness, harming all who put their eggs into those baskets. In addition to the Great Depression (1929–1939), notable bubbles include Enron, gas Pipeline Company that led to the 2001 largest bankruptcy in World History at the time, bringing about dissolution of Arthur Andersen, one of the five largest audit and accountancy partnerships in the world, not to mention losses to investors.
Those bubbles were preceded by the dot-com bubble beginning in the late 1990s, during which time the value of equity markets grew exponentially, with the technology-dominated NASDAQ index rising from under 1,000 to 5,000 between 1995 and 2000. The dot-com bubble grew out of a combination of the presence of speculative fad-based investing, abundance of venture capital funding for startups, and failure of dot-coms to turn a profit.
Bowling-company stocks in the late 1950s and early 1960s were burned when in 1961, shares of Brunswick peaked 1,590% higher than at the end of 1957, and so the fad Brunswick bowling bubble burst. Now comes BitCoin, a new digital currency superstar that follows typical Brunswick bubble patterns of extreme fluctuation and price changes, ranging from about $20 to $1,000, increases absent income potential of the vague product itself, perhaps another bubble in the wings.
Investors, then as now and always, pour money into startups in pursuit of the “Ten Bagger,” an investment worth ten times its original purchase price. Investors and venture capitalists abandoned caution for fear of being late to cash in on the growing use of the internet and particularly in 2014, the plethora of high-rolling social media. Greed is the principle driver and motivator to get in on the ground floor or miss the hoped for “Ten Bagger,” an investment policy that ignores another axiom, “Pigs get fat, but Hogs get slaughtered.”
From the lyrics, “I’m forever blowing bubbles: Pretty bubbles in the air; They fly so high, nearly reach the sky; then like my dreams they fade and die.”
My first after army and college employer, in the mid-1950s, an old-timer Irishman CPA complained the advent of the telephone. Prior to that, he could sort his mail into piles, dispose of each pile, and voila, the day’s work was completed. Now with the phone ringing, interrupting the flow of work, the day’s work was never finished. 'Til Technology Death Do Us Part.