I think it’s ironic that a handful (and i do mean a very tiny handful of engineers) here are wishing for $150/barrel oil, and cheering a stock market crash, and thinking miraculously that it isn’t going to affec them. In case you haven’t noticed, people are cutting back on spending, and that is starting to impact “discretionary spending”. It’s only a matter of time before some of you folks doing the cheerleading who work in I.T., facecrap app, wireless, networking, etc get axed because of the cutbacks are already starting to eat into people’s budgets.

And for a lot of you enginerds that depend on that weekly paycheck, what’s the point of a lowered housing price when you’re unemployed?? How do you plan on qualifying for a loan, especially with the tighter lending? .Remember, stated income ALT-A won’t be an option anymore……You have money to pay for it in full? Didn’t think so…Doh!

Unlike the dot.com implosion in the 2000’s, tech will probably be the last to get hit..That’s good and bad…the good news, it’s the last to get it. The bad news, being the last to get hit often means also being the last to recover.