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Tech Industry Slips Into A Surprising Slump (Demo)

Tech industry in a surprising slump

Microsoft is among the tech industry’s biggest players struggling to navigate the changes in the way businesses and consumers are buying and using technology. In its disappointing summer earnings report Microsoft took an ugly $900-million write-down because of poor sales of its Surface tablet, above. (Timothy A. Clary, AFP/Getty Images / October 25, 2012)

On August 19, 2013, Chris O’Brian writes in the Los Angeles Times:

In a surprising turn, the tech industry is in a slump even as the U.S. economy picks up steam.

The announcement Thursday that Silicon Valley giant Cisco Systems, which sells networking and telecommunications equipment, plans to cut 4,000 jobs is the latest sign of a slowdown that has sucker-punched high-tech firms.

After a remarkable six-year boom set off by the introduction of the first iPhone in 2007, tech companies of all shapes and sizes are finding growth slowing, and even contracting in some cases.

This should be no SURPRISE! Because of the ever-increasing concentrated ownership of wealth-creating, income-generating productive capital assets among a restricted wealthy ownership class, the result is the 99 percent consumer populous is not able to get the money to buy the products and services produced as a result of substituting machines for people. And yet you can’t have mass production without mass human consumption. It is the exponential disassociation of production and consumption that is the problem in the United States economy, and the reason that ordinary citizens must gain access to productive capital ownership to improve their economic well-being.
Tech products are generally, outside of business applications, non-necessity products that require income levels beyond that necessary for immediate needs of living and supporting families. Thus, growth has been focused on global markets in search for “customers with money.” As that search results in fewer and fewer “customers with money,” once the initial select population of consumers have purchased, tech companies will experience slow or reverse growth.
See the article entitled “The Solution To America’s Economic Decline” at http://www.nationofchange.org/solution-america-s-economic-decline-1367588690
Also see “Financing Economic Growth With ‘FUTURE SAVINGS’: Solutions To Protect America From Economic Decline” at NationOfChange.org http://www.nationofchange.org/financing-future-economic-growth-future-savings-solutions-protect-america-economic-decline-137450624

http://www.latimes.com/business/la-fi-tech-slump-20130819,0,871392.story

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