Surfing Risks

Everybody is talking these days about a World recession. For me, in the particular case of the US, this is just a normal consequence of subprime junk mortgages and also the normal recessive curve after an ever-growing economy in the last five years. If banks (like Citigroup) gave low quality mortages to every single living entity on planet Earth, now don´t expect everybody to be able to pay.
Regarding Spain, this is not a crisis, this is just balance. Our economy boosted in the last five years due to the brick and mortar bubble. So now it is time to settle down. Also, Spain depends heavily on external investment so if everything goes wrong in the world, it will have an impact on us.
Now, when they talk about recession, they make us think about the last one. That was the Tech Recession: the dotcom bust, the telco meltdown and there we go, bad for the tech industry. I think this is not the type of recession. Our sector will be still healthy. For sure, they will not be as much investment and big numbers as in the last years, but there will also be no unemployment or tech pain.







