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As tech industry leaders gather for an annual extravaganza showcasing hot new products, political uncertainty is casting a cloud over the sector.
The election of Donald Trump and the Brexit referendum are among the factors weighing on the outlook. And a strong US dollar may cut into spending for many consumers around the world.
With the Consumer Electronics Show kicking off this week in Las Vegas, the organizers are predicting that industry revenue would shrink for the fourth consecutive year.
Consumer Technology Association senior director of market research Steve Koenig revealed the forecast Tuesday, predicting the amount of money people around the world spend on smartphones and other gadgets this year would tally $929 billion as compared to $950 billion in 2016.
Koenig said the "underpinning" of the global forecast was "uncertainty with the election of Trump and with Brexit."
It's the end of the world as we know it.
(Score: 0) by Anonymous Coward on Thursday January 05 2017, @06:14AM
, the stock market continued to rise to record heights.
Are you an idiot? That is what it always does just before the fatal plunge! Have you not heard of Golden Thursday, 1929? Santayana was right, those who don't know their history are condemned to repeat it.
(Score: 0, Troll) by Anonymous Coward on Thursday January 05 2017, @06:33AM
Right, right ....
and then, post plunge, it will dribble along the bottom like a deflated basketball FOREVER. NO MERCY FOR CAPITALOFASCIST PIGDOGS!!! ... I mean, I'm sorry. That was not what I meant.
Let me try this again.
The Trump-driven nuclear winter will turn our global economy into a PERMANENT SNOWBALL EARTH OF UTTER HOPELESSNESS AND POVERTY!!! BURN, YOU WHO ENSLAVE THE GLOBALISED THIRD WORLD!!! ... er, wait, hang on. Sorry, let me have a drink of water, I may have misspoken.
As we move into the new year it's quite clear that we have been driven to OUR DOOM!!! YOU IGNORANT RACIST SEXIST BIGOTED NEOFASCIST SWINE WHO VOTED AGAINST YOUR OWN ECONOMIC INTERESTS HAVE DOOMED US ALL!!! WOE TO BABYLON, WOE TO THE SPIRES OF YORE!!! NEVER AGAIN SHALL WE WALK IN THE SUNLIT UPLANDS OF GLORY AND AFFLUENCE!!!
Or maybe the president doesn't really have all that much influence over the economy. Especially not compared to, say, Congress. After all, Congress writes the budgets, Congress holds the purse strings, and congress writes the laws that the president is bound to execute.
Oh, wait, that would mean that our current rebound has more to do with republican congressional dominance than Saint Obama. That can't possibly be right. TRUMP IS THE BEAST OF REVELATIONS!!! THE END IS NIGH!!!
(Score: 1, Flamebait) by GreatAuntAnesthesia on Thursday January 05 2017, @11:15AM
YOU IGNORANT RACIST SEXIST BIGOTED NEOFASCIST SWINE WHO VOTED AGAINST YOUR OWN ECONOMIC INTERESTS HAVE DOOMED US ALL!!!
That's legal in Alaska.
(Score: 0) by Anonymous Coward on Thursday January 05 2017, @06:40AM
Just in case you weren't joking:
Probability(will plunge | was rising to record heights) != Probability(was rising to record heights | did plunge)
(Score: 5, Funny) by wonkey_monkey on Thursday January 05 2017, @12:02PM
He's right you know. The stock market is always higher right before a crash than after it.
systemd is Roko's Basilisk
(Score: 2) by The Mighty Buzzard on Thursday January 05 2017, @01:46PM
Sorry, out of mod points and that's some quality funny there.
My rights don't end where your fear begins.
(Score: 2) by wonkey_monkey on Thursday January 05 2017, @04:50PM
I'll take an IOU.
systemd is Roko's Basilisk
(Score: 2) by The Mighty Buzzard on Sunday January 08 2017, @02:21AM
Resolved.
My rights don't end where your fear begins.