The view from Silicon Valley

True characterizations of all the current environment, but the most interesting part of the article:

But while death and failure are part of the Valley psyche, so too is optimism. Peter Thiel thinks people are overreacting to the crisis. "I strongly think that for the next few months, equities, especially financial stocks, move higher," he says. "People are just way too bearish on the U.S. right now."

He's even more bullish on the Valley. "We have this leverage finance bubble like we had in the '20s, and there's an argument that we're headed to something comparable to the '30s," he says. "Where was the best place to be in the '30s? Probably Los Angeles. It was the hub of new media and technology, with the radio and the airplane. Silicon Valley is the L.A. of the 1930s.