Silicon Valley will not be saving Caliornia's economy any time "real soon now."

Russ Steele

Those who read Jerry Pournelle's Chaos Manor Column in Wired for years will under stand the "real soon now" reference.  Investors are not buying a silicon boom.

“In truth there are reasons to worry. For starters, growth in IT spending continues to decelerate steadily. In the 1970s IT outlays grew on average 15% a year. In the 1980s annual growth slipped to 13.1%; in the 1990s, 10.8%. In the 2000s, in the period between the bubbles–2003 to 2008–growth was around 10%. This year, according to Gartner, spending should grow less than 6%.”

Oops. During the Prop 23 debate, our lefty supporter of AB32 asured us that Silicon Valley was going to save California's economy.  It seem that green dream is slipping away under the harsh light of reality.