Sunday, February 07, 2010

Kommentary on the Economy 4


WSJ says tech spending is up, and I believe Forrester said the same. That’s a good sign. But then I see other stories that other industries and other economic indicators remain soft. It feels that we’re in for a long-term slough of diminished confidence. We’ve all internalized a confidence-hedging strategy that's the fallout from a decade bookended by two burst bubbles. It’s best not to hope for too much, but it’s still OK to dream, as long as you dream in a coordinate system that’s an extension of what you see around you when the morning alarm bell rings.