Excellent point. The result of financial speculation of recent years was the allocation of credit to the real estate industry, distorting the real economy in mu

Excellent point. The result of financial speculation of recent years was the allocation of credit to the real estate industry, distorting the real economy in multitude of ways, by pulling resources in an unsustainable fashion. In 2000, there were 100+ optical networking companies in the 10 mile radius around Palo Alto. That was the result of that period's credit bubble, which worked its way through credit -> stock market/debt market -> telecom companies -> start-ups.