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Video games are recession proof!
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By now, people should know that the massive bailout deal from the US Congress was shot down. And that lead to a major drop in the Dow Jones. The news of this shocking collpase in the U.S. Economy should come as a major blow to everyone in America.
How does this affect gamers and the industry itself? Well, actually, it doesn't. In this story from 1UP.com, industry analyst Michael Pachter stated that the tumbling stock prices doesn't affect the publishers who do trade (EA, Take Two, and Activision Blizzard are among the publishers who trade actively).
With a combination of solid cash reserves and no debt, the video game industry will be safe from this current market collapse for some years.
This is pretty good news, despite the fact that some studios, such as Ensemble Studios and Sierra, have closed down. And combined with the rising development costs, the fact the industry will be strong amidst the turmoil is awesome.
Let's hope that Congress will stop all these hearings and other state governments will stop trying to pass stricter laws about video games. We're all better for it.
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