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More Layoffs: AT&T, DuPont, Credit Suisse, Belden, Viacom, Adobe [View article]
The majority of the US economy is ... [drumbroll please] ... small business! Of course, Fortune 1000-, 500-, 100 gets all the media attention.
The upside to the economy taking a hit is the potential than innovation will come forward. I forget who the technology executive was who used to say it, but they said that they worried little about their biggest competitor as much as they did someone working in their garage on the next big thing.
The downside to the economy taking a hit -- and hoping for innovation -- is that these types of companies need capital. Perhaps people will be able to get funding the old fashioned way, borrowing from outside the major financial industry. Look at the microloan industry in developing nations, for example.