This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Without the Tech Sector, the U.S. Would Be Toast


NEW YORK ( TheStreet) -- While all eyes are on the deal makers in Washington, have we forgotten why the Federal Reserve keeps its foot down on the bond-buying pedal?

The central bank, which has controlled the monetary policy of the United States sincd 1913, has little room for "tapering." The U.S. economy isn't firing on all cylinders. Sentiment indicators among investors and the average American indicate the current fiscal and governmental mess is beginning to discourage many.

As Mike Norman wrote recently in Real Money, "Even though we are without weekly and monthly government economic data, we are still getting some private stuff, such as the ICSC-Goldman Sachs' chain-store sales data, which came out last week and showed an unexpected 0.1% weekly decline.

"There was also last week's horrible unemployment claims number, which was at least partially attributable to some glitch in California claims reporting (also based on the government shutdown), but we'll see whether or not that is corrected in the release this Thursday. If not, then more cause for worry."

However, one reason I'm not worried our economy will end up like Greece's is the U.S. is the world's leader in technology. From cloud computing to mobile devices, electronic gaming to ecommerce solutions, the U.S. is tops.

If you combine the market capitalization of Apple (AAPL), Google (GOOG) , Microsoft (MSFT), Cisco Systems (CSCO) and Intel (INTC), you have a financial empire within a nation.

After adding up the market caps of these six tech behemoths we see a conglomerate worth over $1.27 trillion. Very few nations would offer a net domestic product (NDP), let alone a gross domestic product (GDP), that rivals this sextet of innovative greatness.

As I read the debate about how Apple's new-generation iPad and iPad Mini will be priced, I'm reminded that in the world of ecommerce technology I failed to include another Godzilla-sized company named (AMZN).

With a market cap of $142 billion, this technology/online retailer sells everything from household items to the new Kindle Fire HDX. Which company or country on planet earth today can compete with King Amazon and its imaginative guru, Jeff Bezos?

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs