What Recession?

Problems in the economy continue, for the most part, in the housing sector, those that financed the housing sector, and other industries which used securitized financing, such as parts of the auto industry.

Elsewhere, things can be good.

Worldwide sales of semiconductors in June rose 8 percent to $21.6 billion, up from the $20 billion for the same month a year ago, according to the Semiconductor Industry Association's monthly report.

"Key demand drivers for semiconductors -- especially personal computers, which account for 40 percent of semiconductor sales, and mobile phones, which drive about 20 percent of demand -- continued to show double-digit unit growth," SIA President George Scalise said in a statement.