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The worst is behind us, and we're seeing aspects of recovery,"



October 09, 2009 – Comments (1) | RELATED TICKERS: GOOGL

I came across some interesting quotes from Google CEO Eric Schmidt this morning.  Here's his thoughts on the current state of the economy:

“The worst is behind us, and we’re seeing aspects of recovery,” Mr. Schmidt told a group of reporters Wednesday morning at the company’s offices in downtown Manhattan. “We’re increasing our investment and hiring rate in anticipation of a recovery.”

The low point for Google’s business, Mr. Schmidt said, came in the spring. Things started picking up in June. Europe did not trail the United States, as many economists had expected, he noted.

It was less than two months ago, Mr. Schmidt said, that Google decided to switch on the hiring and acquisition programs again.

In the cycle of economic recovery, Mr. Schmidt said, businesses first stabilize and begin feeling more confident, then they increase advertising and only later, hiring.

“I would hope we’re a leading indicator,” he said.

Interesting stuff.  Is Google a leading indicator of increased business spending?  Time will tell.

The Economy Looks Rosier Through Google’s Glasses



1 Comments – Post Your Own

#1) On October 09, 2009 at 6:46 AM, KamranatUCLA (29.40) wrote:

I think we are facing a huuuuuuuuuuge generational shift. Like continetal drif theory, tectonic plates of different generations are colliding and change the landescape.

The new generation has no money. Burried in student loans, back taxes, caring about older parents, maybe kids, and low paying jobs is changing everything.

Go to craigslist and laugh! You will see thousands of homes in southern california that are in te millions and then go to jobs in southern california, most of them pay 10 bucks/hour.

There is no doubt in my mind that home prices will crash big time. We haven't seen anything yet. At the same time I think compnies will open up and hire. There are still many services that are needed to make the world go around, and I think companies will be desperete to fill positions as more and more people move out of the country, get older, retire, or die.

I think healthcare jobs and accouting jobs are over-rated and we are finally over the service economy. Thank Jesus. What service economy has done for us is to make evry young guy a dreamer who wants to be an actor/singer/famous while they work in starbucks and get 10bucks/hour...what a waste of time and life!

Now after 20 years of "service" industrie people are sick of it and want to start producing again, producing quality products, not chinese crap.

I think we will see more and more factory openings as Dollar loses value and people are sick of corporations setting up shops out of the U.S. to exploit cheap labor while exploiting our government at the same time in forms of SBA loans, tax breaks, etc.

I think we are at a break-through point. I hope U.S. becomes a place again where everybody likes to visit and live.

Disneyland in Socal is like 50 years old, Magic mountain I believe is 30 years old. We need to build new entertainment centers, new thinsg for people to experience, to see, to enjoy.

My vision includes a high tech america with pockets of really high tech places. LA and NY will be like Tokiyo on steroid. Fast trains connecting LA to Vegas to SF.

I can even see a big project like a fast train that connect LA to NY in 12-15 hours.

I think the last few years was like a break so we can reorganize and recover from an economy that was on fire and this time economy will explode...sooner or later.

Obama is the perfect President for this changing times. He just won the Noble price for peace and that is a really really good sign and one of the best news I have heard from our country in a looooooooong long time.

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