It slowly crawled back up, as the housing bubble pumped new energy into the economy.
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Clients had grown skittish as the tech bubble popped and energy prices soared.
Proposed by Mexican theoretical physicist Miguel Alcubierre in 1994, the drive would propel a ship at superluminal speeds by creating a bubble of negative energy around it, expanding space (and time) behind the ship while compressing space in front of it.
Interest rates hit 21.5%, a deep recession ensued with unemployment reaching 11%, the agricultural sector slid into depression, a bubble burst in the energy sector, the real estate industry collapsed, and third-world debt burdens nearly brought down the mega banks.
The solar stocks "mini-bubble", the meteoric rise of the clean energy sector in 2007 and the backing from Silicon Valley venture capitalists have led some to compare the clean energy sector to the dot com bubble of the late 1990s, but Nasdeo is quick to point out the differences.
Thiel and his colleagues placed bets that reflected his contrarian nature: they bought Japanese government bonds when others were selling, concluded that oil supplies were running out and went long on energy, and saw a bubble growing in the U.S. housing market.
Bubble memory, a way of storing 0s and 1s by manipulating energy levels, had been invented in the labs in 1966.
Because most U.S. banks are recapitalizing their businesses after the debt bubble burst, there are very few, if any western banks who will finance new green energy technologies.
To me, the alternative energy story had at its roots surprising similarities to the fervor in the US around Japan before its housing bubble popped.
Sacyr was one of a trio of big Spanish construction companies that grabbed stakes in the country's biggest energy firms in the go-go days of 2006, near the height of Spain's property bubble.
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