'These developments suggest that the United States is spending huge amounts of money in ways that are actually making Americans less secure, not only against irregular insurgents, but also against smart countries building different sorts of militaries. And the problem goes well beyond weapons and other high-tech items. What’s missing most of all from the U.S. military’s arsenal is a deep understanding of networking, the loose but lively interconnection between people that creates and brings a new kind of collective intelligence, power, and purpose to bear — for good and ill…..”'

"Harry Markowitz, 81, who won the Nobel Prize for economics in 1990 for his work on portfolio theory, says that last year’s collapse reinforces his view that even the most unlikely outcomes are possible in any year. “The thundering herd is still with us,” said Markowitz, a professor of finance at the Rady School of Management at the University of California, San Diego. “Nature draws into a bushel basket full of returns and finds a next return every year, and I believe there’s another 1929 somewhere in that bushel basket. 2008 was not a refutation, it was a confirmation.""