November 2001 - 11/28/2001
What we've all been waiting for!
Techies are geeks. Geeks and techies are two words that go together like go & together. So what happens when the National Bureau of Economic Research (NBER) makes an announcement about the economy? Geeks/techies say "DUH!"
Good news--it's a recession - COMMENTARY
Well, folks, it's official; We're in a recession. Now get out those party hats!
Why be happy just because a panel of economists--also known as the National Bureau of Economic Research (NBER)--has officially declared a recession dating back to March? Because that means the worst may be over, especially for the tech sector, which showed signs of a recession well before other industries went into a collective tailspin.
When six sages from fancy universities tell you what tech CEOs and their customers have been saying for months, you know things are about to turn up. The group has a tendency to be a little late to declare a recession.
And this time is no different. Any techies who have lost their jobs, watched stock options drown, or have used one of those "perfect storm" analogies know we're in a recession. "Duh" is the appropriate reaction to NBER's statement, which surprised absolutely no one.
I happily read this and gleefully smiled as I know times are going to change once the new year hits. Geeks/techies unite...<- meaning -> out