Tag Archives: stock market

Predicting the 21st Century: Nostraslammy’s ten-year review

Ten years ago, at the turn of the millennium, Nostraslammy took a stab at predicting the 21st Century, with a promise to check back every ten years to see how the prognostications were turning out. Odds are good I won’t be able to do a review every ten years until 2100, but I figure I’m probably good through 2030, at least, barring some unforeseen calamity. And if you’re Nostraslammy, what’s this “unforeseen” thing, anyway?

Let’s see how our 22 articles of foresight are holding up, one at a time.

1: Researchers will develop either a vaccine or a cure for AIDS by 2020. However, it will be expensive enough that the disease will plague the poor long after it has become a non-issue for the rich and middle classes (although this is one case where political leaders might fund free treatment programs). The end of AIDS will trigger a sexual revolution that will compare to or exceed that of the 1960s and 1970s (unless another deadly sexually-transmitted disease evolves, which is certainly a possibility). Read more

Reality is making us sick, and fantasy can’t cure us

You’re honey child to a swarm of bees
Gonna blow right through you like a breeze
Give me one last dance
Well slide down the surface of things

You’re the real thing
Yeah the real thing
You’re the real thing
Even better than the real thing

– U2

Fantasy stories, myths, legends, tall tales, fairy tales, horror, all these have been with us for a very long time. Science fiction, as well, has been with us since Mary Shelley found herself in a bet with Lord Byron about the possibility of writing a new kind of horror, one not grounded in the gothic.* So the presence in our popular culture of stories based in unreality of one form or another is certainly nothing new.

It seems to me that there’s been a lot more of it lately, though. Read more

Let the economy die?! Rushkoff’s goals are noble but his plan needs work

A couple of weeks ago author and NYU media theory lecturer Douglas Rushkoff penned a provocative essay for Arthur Magazine. Entitled “Let It Die,” the essay explains why we should stop trying to save the economy.

In a perfect world, the stock market would decline another 70 or 80 percent along with the shuttering of about that fraction of our nation’s banks. Yes, unemployment would rise as hundreds of thousands of formerly well-paid brokers and bankers lost their jobs; but at least they would no longer be extracting wealth at our expense. They would need to be fed, but that would be a lot cheaper than keeping them in the luxurious conditions they’re enjoying now. Even Bernie Madoff costs us less in jail than he does on Park Avenue.

Alas, I’m not being sarcastic. Read more