Feeds

Gates predicts 'significant' US recession

Place your faith in Spam

Reducing security risks from open source software

The oracle of Redmond Bill Gates is back, predicting the US economy will suffer a "fairly significant recession" and unemployment will surpass nine per cent.

Bloomberg reports the Microsoft chairman-come-Windows-pitchman offered dreary divinations of American job rates to gathered alumni at the centennial celebration of the Harvard Business School in Boston.

Gates, awarded an honorary degree from Harvard in 2007 after dropping out in 1975, said a perception of a strong US economy had lead many investors to make unrealistic expectations of high returns when things were looking more rosy.

The US national employment rate of 6.1 per cent was unchanged in September, following a 0.4 per cent rise in August. That puts the total number of unemployed at approximately 9.5 million.

Gates is likely guilty of imprudent investments himself. The recent economic upheaval has damaged Gates' investments, ending his 15-year reign as America's richest person. The top honor now belongs to philanthropist Warren Buffett.

Before any readers re-stock their unused Y2k bunker, keep in mind Gates' track record of predictions include gems like declaring in that Spam email will be "solved" in two years time - back in 2004. Let worries be soothed by having several dozen Nigerian princes requesting up-front expenses to transfer millions of dollars to your bank account only a click away.®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.