Friday, November 21, 2008, 8:49PM ET - U.S. Markets Closed.
Last week, the sweeping realization of just how bad this downturn could get swept through Silicon Valley like a bad flu, leaving everyone just about as weak-kneed. But apparently, Gartner had some sort of vaccine. The research house released its new IT spending forecast today, and the news wasn't too bad.
Spending on technology won't increase the previous forecast 5.8%, but it won't decline either, the report said. Gartner is looking for a modest increase of 2.3%, mostly pushed up by emerging markets. The firm expects the U.S. to be flat, and Europe to be slightly negative.
I asked my guest blogger and entrepreneur Om Malik if the projections were too rosy. His take? We don't even know enough to project yet.
Plus: What Malik is watching as a harbinger of a steep tech downturn.
You should have jumped in. Made big money today. The gloom and Doom gang helped me out...thanks. You sold your stock for nothing, I bought ity for nothing...took big gains. You were happy to sell..I was happy to buy...now we are both happy! Let's do it again.
@jagg You can only "jump in" if you have cash laying around. If you're in stocks/bonds long term then a lot of your cash is already locked into investments. Man, I wish I had lots of "spare" cash around to "double-up" but that's all part of the game I guess. I suppose I could have sold my solid investments on the way down and bought them back cheaper but that's tricky (and a paper loss is better than risking a real one IMO). Good luck to you!
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sing4beer - Monday October 13, 2008 04:06PM EDT
Rooked......that's a very good metaphor for what could happen if you buy right now.....On the other hand, the one-world-order meeting over the weekend might have yielded a fast-track plan to create hyper-inflation in the markets, including real estate, INFUSE LOTS OF MONEY TO JACK UP PRICES BY DEBASING THE CURRENCIES, THEN OPEN THE FLOOD GATES OF CREDIT AGAIN. IF YOU CAN'T BORROW MONEY, YOU CAN'T BUY r/e. Naturally, everyone will try to sell r/e into it, then place their money back into the stock market.......and the vicious cycle begins again, we've all been down this road before, the problem is that not enough time has passed to bring in naive buyers with short memories, the pain is still far to fresh, however there are teenagers not aware of this melt down and it's effects, who will be buying within the next ten years come hell or high water, the current plan is ultimately to convince them, as they did with the current r/e losers, that r/e is a great investment....BOOM-BUST, BOOM-BUST. The fear is always; can the government rescue the economy the next time the overpricing-scheme is revealed. WEALTH IS BUILT SLOWLY OVER A LIFETIME, NOT IN ONE BOOM-BUST CYCLE, but we have become a NATION OF INSTANT GRATIFICATION BOOM ADDICTS, and I would rather think of our government as a drug dealer keeping his buyer hooked on BOOM.......one day there will be that FATAL OVERDOSE if regulators fail to return rational long term stability to markets, and savings rates continue at zero or lower. We all seem to live as if there is an earth-destroying asteroid headed our way with only months left. WE NEED TO LET THIS CORRECTION OCCUR, FOR SAKE OF FUTURE GENERATIONS, NO MATTER HOW SEVERE THE PAIN........STOP THOSE DRUG INJECTIONS!!.........sadly, the super rich did not allow this.