Hallmark of an Economic Ponzi Scheme
<i>“the extreme brevity of the financial memory.”</i><p>Yes. It's only been since 2008 since the US economy tanked, it took five years to dig out of that one, and real wages never fully came back. That wasn't long ago.<p>It's about time for Silicon Valley to tank.  There's nothing big in the pipeline comparable to the Internet or smartphones.  Laptops, notebooks, tablets, and phones have all passed peak sales. The businesses that assume endless growth are maxing out.<p>The next big thing may be solar, wind, and storage taking over the energy industry, which is a good thing. That's a slow, capital-intensive, heavy-industry infrastructure upgrade, driven by manufacturing cost reduction. It's going to happen, but it's not a go-go business.