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Tech Points to Upturn

Apr 1, 2008

If technology analysts are correct, good economic news is on the horizon. Silicon Valley, the country's high tech capital, is on the rebound and workers say the U.S. economy will follow.

When tech took a tumble in 2000, the nation's economy fell with it. Now what was down is turning up. "As technology regions go, the rest of the country quickly follows," economist Russ Hancock said.

Silicon Valley tech workers are, for the most part, feeling optimistic. Some economists see tangible signs of an economic uptick as well.

"The robust global economy is a factor helping the U.S. and it may even keep the U.S. out of recession," said Joseph Lavorgna, the chief economist for Deutsch Bank. There are also other positive signs.

Exports are on the rise; interest rates continue to fall, and Congress has jumped in with a stimulus package and tax rebates that should wind up in American's mailboxes before summer.

Former General Electric CEO, Jack Welch, predicted that Americans will feel like they're in a recession but really won't be in one. Economist and author, Ben Stein, agreed, saying, "Our economy is nowhere near as bad as the media is making it out to be."

Topic: Wholesale News

Related Articles: economy 

Article ID: 581

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