Given that:

1) The IT industry supplies hardware and software, both of which have limited time spans of usefulness, and

2) That "consumption" or IT-related spending has been in a slump for at least the last year...

Then it is a pretty safe bet that "some type" of IT-related spending becomes more likely the longer businesses abstain from large IT investments. So no rocket science bean-counting degree is required to make this assertion.

However, I think that it could be a mistake for "the whole IT industry" to assume that a big windfall is just around the corner for all. If this recession has done anything, it has made (the surviving) businesses much more conscious of "the bottom line", including the huge amounts of money that were previously funnelled into IT.

Many are looking at thin-client/server models and "cloud" computing as a way to slash IT costs and increase data/user security while decreasing system maintenance to a tiny fraction of previous "fat client"/server systems.

Sure, you can jump on the bandwagon and switch over all users on your systems to Windows 7 fat clients, but if/when your boss compares your IT costs with estimates of competitors using thin clients, you may want to have your resume ready to go (as you may be going, too).

...how many people on Goldman Sach's payroll actually understand the IT industry beyond the corporate numbers.

Without publishing more info about their model [used for this forecast], no rational person should take their drivel seriously.

Follow Up Article: "Goldman Sachs Sees Nothing But Upside By Artificially Inflating Its Heavily Invested In, Tech"

These are the tards that took 12.9 BILLION of US tax payer dollars because they didnt see housing was a turd? Even a derelict crack-baby could see it. And they want ppl to believe their crap about IT spending? Haha... Nice try Goldman. Lick my Sach.

They're just blowing another bubble... that will create an immense amount of pain for punters like me, while it will create another shedload of money for them.

Dear Goldman Sachs.... to quote the Inq.... please, GO FORTH AND MULTIPLY!