Gates predicts 'significant' US recession

oh look

Bill Gates is repeating what a lot of other folk are saying.

This is newsworthy because?

Yes, but not until after the election

So it won't be an election issue. Infact Bush/McCain can claim success in 'fixing' the problem with NOOOO negative consequences at all, yeh, NONE!

Good grief what if McCain wins and we have 4 more years of this.

philanthropist?

If they were so generous and selfless they wouldn't be so rich.

Why is it that giving away 0.1% of your cash gets much more thanks then lets say 20% of your free time?

This isn't a direct hit at the individuals (they don't have to give a penny away - a lot don't), just the way most media seems to hype just how generous these individuals are for giving away less (by value to themselves) than the vast majority of other individuals, and ignores the work so many others do. Oh well, roll on the retaliation...

he also said

the internet was a fad...

looks like the financial crisis will be over sooner then we thought.

The New Nostradamus

Talk about 'Stating the Bleeding Obvious!'. Hello Mr Gates. America is already in a recession. This moron is only coming out with this now as he has lost a little of his 'imaginary' money!.

And, as far as Gates is concerned, the spam problem has been solved. The key on the tin is much simpler to use now, and will not snap off 90% of the time!

All is well then

Gates has predicted misery for everyone else, so I'm reassured that everything will be fine.

Thanks, Bill, that's just the word I needed to regain confidence in the market !

And there was that book

The Way Forward came out in 95 was it? first edition had nothing at all to say about the internet, he got that wrong as well.

That's taking the piss!

If he's only just realised that, M$ are very definitely better off without him!

Unemployment figures

The reg should have pointed out that it is widely accepted that the US official unemployment figured quoted from the BLS are completely misleading at face value. I'm sure some of the audience may not be aware of this.

The 6% figure represents those who have been laid off in the past 6 months, qualify for and are receiving government unemployment checks. If one takes any job, even fixing the neighbor's computer for pay or selling something on ebay, then one looses unemployed status (at least if the income is reported). Most of those who've been fired, left voluntarily, just graduated, finished a contract, etc do not qualify for government unemployment and are not considered unemployed, even when in fact they are.

What this means is that official employment figures are greatly under reported, some say by as much as 100%, but 10% is closer to the truth than 6% being quoted in this article.

As for Bill Gates, it's a little late in the game to be making novel claims.