The Adventures of AlisterComputeron

In addition to being a tech fan and an avid reader of tech blogs and news, I’m also a fan and observer of the financial markets.  Prior to two weeks ago – prior to the announcement that the Government should bail out financial institutions, and the subsequent failure of the first version of said bailout plan – things, from what I was reading, were “okay, but could be better” to “bad but not all that bad.”  This sentiment was especially true in the tech sector, and perhaps a little worse in the financial sector.

Now it seems there is much more talk of doom and gloom.  The President and his staff have finally acknowledged that there’s a problem in the financial sector, and that the economy is on shaky ground.  Microsoft CEO, Steve Ballmer, says the finacial crisis will “sap consumer and business spending, affecting all companies, including [Microsoft].”  Additionally,

Financial issues are going to affect both business spending and consumer spending, and particularly … spending by the financial services industry.

Steve said, “no company will be immune to these issues.”

Similarly, securities firm JMP Securities says that IT software spending in 2009 could be at its lowest since 2001.  Results from a JMP survey indicate that 74% of respondents say their software budgets will be down to flat next year.  Investment firm Citi also cut ratings on software firms due to macroeconomic conditions.

So what does this mean in the real world, i.e., the world in which every-day IT dudes, like me and you, exist?  Well, I can tell you our company is expecting a flat-ish IT budget for next year.  We have a couple of big projects planned, but a couple of others have been cut or postponed, including moving our old PBX to VOIP.

I’m typically an optimist, and I think this latest crisis will pass, as many other crises in America have been overcome.  Sure things suck when you’re face to face with it: there’s job stagnation; the threat of losing a job; watiching your retirement savings tank with every failed bank.  But, and this is the optimist talking again, we’ll get through it, and hopefully be stronger and wiser because of it.