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On the one hand, I like how companies like Apple, Google and Nestle have done well in the past decade (because I think these companies add significant value to
by gizmo 17y ago
On the one hand, I like how companies like Apple, Google and Nestle have done well in the past decade (because I think these companies add significant value to the economy), I'm less enthusiastic about the other trend.
Microsoft got kicked off the #1 spot and Exxon Mobil has taken its place. New contenders in the top 25? Petroleo Brasileiro, PetroChina, Shell and Chevron. I see a pattern here.
And JP Morgan Chase, they made it into the top 25 with $25B of TARP money.
Not making any moral judgement here. It never struck home to me how the economy shifted in the past 10 years for the biggest companies, so I thought I'd comment.
- startingup 17y agoYou hit the nail on the head. This is really the effect of the massive credit bubble - natural resource companies and financials. Given the way things are going, we will likely see a lot more of this in the next decade.
- andreyf 17y agoI'm not sure how natural resources are a bubble. They might not compete in the same way companies which innovate on their products do, but they're certainly not under-valued. Financials, on the other hand, are a bubble in which major shareholders have complete control of the legislative process in the US. Consider the power of the federal government to bail out those "too big to fail", and that bubble seems pretty unlikely to pop.
- anamax 17y ago> Consider the power of the federal government to bail out those "too big to fail", and that bubble seems pretty unlikely to pop. Every bubble pops. Trying to keep a bubble from popping makes the eventual pop significantly worse.