US Recession hitting the technology world hard?
US Recession has been the cause of concern for people all over the world. Asian markets and other stock exchanges are going down because of this. There is also a possibility that this is affecting the technology world.
Due to recession in the US many big IT firms are being sold off at small prices and many people are losing their jobs. This means that the egg heads and the smart IT world is coming down. The trend follows in China and India where people in companies related to IT and technology outsourcing are losing their jobs.
I’m hopeful that this recession will be over and soon the world of IT and other technology will be back on track.
March 21st, 2008 at 3:09 am
According to our government we are not in a recession. However, many analysts and the media suggest gas will be hitting $4 a gallon pretty soon. Our own president was not aware of that (or at least did not want to publicize his knowledge of it). This is only the beginning of a recession. Bear Stearns getting bailed out by the Federal government (and then sold to JP Morgan for $2 a share). The Fed cutting rates the other day. These are all signs the government is trying to prevent things from getting worse. To top it off each tax payer will get at least $600 in the form of a check after May 2md. As people continue to lose their jobs and houses, I see an inevitable recession on the way.