I don’t trust any of the media. They aren’t very good at predictions, but they definitely are good at pile on the prevalent news. That is, they are great at taking an issue and blowing it completely out of proportion.
When the economy is great and wall street is great, big headlines say how great the economy is. When oil prices are high, they blow it out of proportion that “oil is going to go insane”…Now with the credit crunch, they headlines are all “credit crisis” blah blah blah.
Media, for all purposes, is just to catch eyeballs. That’s why they won’t ever report something against the current trend or reader sentiment. For that, I’m contrarian against the media. Whenever the media is reporting something, I going to be doing the opposite..Because by the time the media reports it, it already happened.
frankly, I’m still pretty bullish about technology…Because working in tech area, I’m seeing companies spending more on tech, simply because they haven’t done so for so long…
Doom-dayers will probably think this is absurd. But, like I said, our own company has been upgrading/updating like mad…And talking with other peers in the industry, they seem to be saying the same thing. The only exception are my peers in the defense industry, which are reporting contract stalls/and tightening budgets, namely because some of the companies are waiting on a big defense contract. If it doesn’t happen, peers are reporting there will be layoffs.
