“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."

Wednesday, October 31, 2007

Is Google Worth $700 a Share?

Is it possible that this company's stock could actually be worth this kind of money? Or is this more market insanity?
Google stock barrels through $700

By MICHAEL LIEDTKE, AP Business Writer

Google Inc.'s stock price barreled through $700 for the first time Wednesday, propelled by a belief that the Internet search leader will become even more profitable as it plants its products and services in new markets.

The Mountain View-based company's shares traded as high as $704.79 in morning trading before falling back to $703.87, up $9.10 for the session. It took less than a month for the stock to leap from $600 to $700, building upon a fervor that has lifted Google's market value by more than 30 percent since mid-September.

During that 6 1/2-week stretch, Google has created an additional $53 billion in shareholder wealth. That dwarves the total $41 billion market value of another Internet icon, Yahoo Inc., which had a 4-year head start on Google.
The article is all about the speculative frenzy but not a word about actual earnings. These are volatile days with money running from one market to the other. After the tech bubble, the vast amounts of capital rushed into real estate until that bubble burst, now with interest rates dropping, money looks for the best return which today is the stock market but mindless speculation will only lead to more misery. The Fed is expected to drop interest rates again today. Although this is at the expense of the falling dollar that money is going somewhere and it appears that the Stock Markets are the benefactors. With so many American families holding stocks, this could be very good for the US economy if the Market doesn't go totally insane. Mortgage holders have been refinancing and another round of rate cuts will allow even more people to free up money with lower interest rates. If we can tolerate higher oil prices for just a little longer...


  1. As advertising revenues abandon the print media, it is believed that the dollars will flow to internet advertising.

    Access to that market becomes the key to success on the Web. A site unseen is a site of little worth.

    Is it worth $700 a share?
    It is today.

    Whether or not that is a value buy ...

  2. As they stand up we stand down.

    I guess we are going to be there for a verrrrryyy long time.

    Iraqi Army Training

  3. Seen much worse, at Fort Lost in the Woods, Missouri.

    Let alone at the School of the Americas, but that wasn't "basic".

    The good sign was they were all mobile, ash. All trying, just not in time with the leader.
    That's nothing but a thing, that's why it's called training. That their culture obviously does not have it's cildren perform regimented calisthenics at school is plain as day.

    Your cultural bias and lack of experience blinds you to the realities of training a foreign military force.

  4. We are training the Elites are we not?

    Anyway, still pretty funny.

  5. DR wrote:

    "Your cultural bias and lack of experience blinds you to the realities of training a foreign military force."

    hmmm, maybe that's why the training has gone so poorly - I'm not the only one exhibiting those traits...

  6. NO, not the elites, the whole force start to finish. From recruit to combat trainee to deployable combat team.

    Five months minimum, for US or Salavadorans. That's just get 'em ready to go, not fine tune fightin' machines.

    Tough, some times, to teach fire control to excitable boys.

  7. Without a doubt, ash.
    The training program was deporable, exemplified at Camp Tanji.

    The story at westhawk from Jun '06 about the "System" and how it was mismanaged. The whole of the training system was short changed.

    No doubt about that.

  8. It looks like the first day of basic. It did bring a smile, but you would be amazed at the change after a few very long weeks.

  9. Here is that link to the westhawk story.

    By treating the Iraqi troops as less than equal, they were.

  10. The New York drivers license issue is blowing up on the Democrats.

    At the Presidental events and in Court, FOX reporting that the law suits filing on the morrow.

  11. You got me puzzlin' about that cultural thing rat. Seems they've got the training going a little better in Manila

  12. Ash said...

    You got me puzzlin' about that cultural thing rat. Seems they've got the training going a little better in Manila

    The question is Ash, is the chick in the video really a chick, or a dude playing a chick?

  13. I was wondering the same thing. And if you look to the right there at youtube the same person has posted a number of these prison videos...

    ...sister act 2...hotdog song

    ...weird stuff!

    but well trained

  14. p.s. I wonder when Kim Jong il will post his works of art?

  15. Don't watch that prison video, it ain't healthy. Why go for hamburger when you can have a filet mignon?