"I skipped a "generation", so now it's time to ante up."
Folks who skipped a generation survived because of that caution. Folks who try to skip again will find themselves skipped right out of town. They are reluctant to spend but my feeling is that tech spending will precede real job creation or actually be the cause of it. Remember the Y2k build out--took place in 98 & 99. That stuff is getting old.
And companies like intel, schwab, merrill, all continued to invest so it is the second tier that remained cautious in the face of this who now must catch up. mike