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Re: federal reserves post# 601688

Saturday, 10/25/2008 12:24:52 AM

Saturday, October 25, 2008 12:24:52 AM

Post# of 704019
unfortunately the computer was in development since ww2. the internet was in development since the early 80s. financial engineering was growing during the 90s. what's been in development over the last decade that's ready to break out at this time? research funding has been cut way back during the bush years: nsf budget sucks and darpa, which funded much of the early internet and computing research, was redirected towards short-term goals rather than blue-sky research projects. bell labs closed up shop and "research" in industry has generally had a short timeframe. i don't see anything ready to break out. the bush years have been a period of little progress. perhaps ironically, the market has erased all gains of that period as well.

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