Bill Gates, the world's richest man, believes the US economy will not fall into a slump because technological progress will help it to grow, he said in an interview with a German newspaper on Thursday. The Microsoft co-founder told Bild he believed the severe turbulence on the global markets sparked by concerns of a recession in the United States would calm down. "The US economy has been very strong in the last 10 to 15 years. Unfortunately I don't have a crystal ball to see into the next few years," Gates said. "But I am an optimist. The US economy could remain strong in the next few years because technological progress will propel it."
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Video: >> Click here <<Gates denied he was anxiously keeping an eye on the Microsoft share price. "I'm no expert on shares, I'm a software person," he said. "I look at the share price every couple of weeks. "The important thing is that in the past it has gone up far more often than it has gone down." Gates was in Germany to announce that Microsoft will spend 235 million dollars (161 million euros) over the next five years to introduce more computers into classrooms. He was to address the World Economic Forum in Davos on Thursday. Gates led the Rich List compiled by Forbes magazine for the 13th year in 2007 with an estimated fortune of 56 billion dollars.
News source: Agence France-Presse (AFP)
But I can see technology helping things recover with the help of other factors.
I see people talking about the national debt so often, but the government is run by people from the same culture. If you can't take care of personal finances properly, why should you be expected to run a business properly.
Anything can happen in a few years. As long as you follow common sense and spend less than you earn, there shouldn't be any major problems, but that's really economics 101.
A good friend of mine is fond of saying: "If sense was common, everyone would have it."
I'm not sure of what – if anything – is going to get us out of this mess. But somehow I don't think that "common sense" is going to do the trick. There just isn't enough of that going around.
Ya think that housing thing was bad? Wait till the Credit Card Crunch comes.
America imports most of its technology since they sold off most of their tech companies decades ago. I think that only Zenith still makes TVs in America itself now. Of course it revive Japan. Guess who bought up those tech companies bact then? The only way now for Americans to compete with outsourced labor is to work for sub-standard wages and absolutely no benefits nor any protections. Sort of like back in the "good old days" with sweatshops and robber barons where if you spoke out against the company you were killed...
Ain't that the truth.
but dont worry folks, booming sales of windows vista will save us.
It also helps to have family connections in high places like IBM.......
Wait, what's this? A computer on (virtually) every desktop? OMG Gates sure doesn't know anything does he! That must be why he's so poor.
He probably knows quite a bit about tax loopholes.
Last edited by Foub on 24 Jan 2008 - 22:05
Gates thinks that the economy will be revived by technology which is not true in this case. It will be revived once the republicans are out of office since it is their many failed reaganomic policies which has caused it to falter in the first place.
This discussion belongs in the RWI forum since you really can't talk about the economy without also including politics as well because they strongly influence each other.
Last edited by Foub on 25 Jan 2008 - 01:08
Unfortunately there's no way to get that point out to the 300 million people that live in this country.
-Spenser
Gates and his weird sence of humor. btw, quit doing wars and that would revive the us economy
Gates and his weird sence of humor. btw, quit doing wars and that would revive the us economy
$1 trillion lost in Iraq and counting...
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