Technically Speaking

Google has been reported to have broken over the $700 per share price this morning. My first reaction is that there are a lot of people out there that are making money. My second thought is the US economy is all riding on the good ship Google. If for some reason Google mis-steps, there could be disastrous results for the entire economy this country is thriving on right now.

Yesterday, there were talks of the Web 2.0 bubble going under very soon. As long as Google’s stock goes up, I think that is doubtful. There will be a downturn, but the same thing happens in sports; right NY Yankee fans? What about St. Louis Cardinal fans? You get what I mean.

Now the naysayers will hope for a Google collapse sooner than later. I for one hope that the stock price keeps going up. With the other industries in disarray these days - mortgage industry, banking, steel, farms, etc et al - it’s good to see that the one thing keeping our economy going is the internet.

Technically Speaking, without Google and the Web 2.0 explosion it would be 1929 all over again.

This entry was posted on Wednesday, October 31st, 2007 at 10:24 am and is filed under Google, Technically Speaking. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.