[PEN-L:3886] Grassroot competition

["Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx>]

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 Amazon.com 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


          FOREIGN AFFAIRS / By THOMAS L. FRIEDMAN

          Amazon.you


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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 Amazon.com, you should
pay less attention to Mr. Greenspan and more attention to what's going
on in a small house in Cedar Falls, Iowa.

Full article:
http://www.nytimes.com/library/opinion/friedman/022699frie.html