Grassroot competition

Henry C.K. Liu hliu at
Fri Feb 26 11:09:11 PST 1999

Freidman normally writes about foreign affairs. But I guess with globalization and the internet, global affairs had combined foreign and domestic affairs. The next competition for will come not just from Cedar Falls, Iowa, but from Mexico and Canada and then from Asia. The New York Stock Exchange will extend trading hours from 5 am to midnight and eventually to 24 hours trading. With day traders and online trading, a revolution, or at least a coup, is taking shape on Wall Street. We now await the finance capitalism's equivalent of Lenin's return to Moscow?

Henry C.K. Liu

************************************************************** New York Times, February 26, 1999


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Testifying before Congress Tuesday, Alan Greenspan wouldn't exactly come out and say that there was a little irrational exuberance behind some of the Internet stocks, but he said these share prices had reached levels that gave him "concerns."

Well, if you really want to be "concerned" about the levels of some of these profitless Internet stocks, such as, you should pay less attention to Mr. Greenspan and more attention to what's going on in a small house in Cedar Falls, Iowa.

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