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• PowerBook-iBook
• Garageband
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By Applelinks Senior Editor John H. Farr
The good news is that Apple's jumping into the volcano with both feet: new, improved iPods, faster iMacs, and somewhere in the pipeline, maybe even (eventually, somehow, finally) more laptops. The bad news isn't here yet and maybe won't arrive, but something really isn't right.
The Wall Street Journal has it right: "Bubble Redux? Bull Run Challenges Conventional Wisdom." (That's a paid subscription link.) Some of the biggest gainers on the NASDAQ are stocks with hardly any earnings. Things seem to be picking up, here and there around the world, but the economy is shedding jobs faster than our tabby loses hair. The government has given away all the money and wants the Treasury to print another $87 billion to pay American companies for contracts to "rebuild" Iraq. For those of us of a certain age, this has Vietnam writ large all over it, and next month they'll be back for even more.
Housing prices continue to climb, even in the face of a full-bore re-inflation of the world economy that could easily send interest rates straight through the roof. Take away refinancing for that extra shot of cash, and where do people go to pay off their car loans? Meanwhile in some parts of America, school children have no books and teachers go home early. If this is any way to run a railroad, we're glad that we're on foot.
Under the circumstances, Apple deserves praise for taking risks.
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