HP Preferred Partner Conference, San Francisco – HP CEO and president, Mark Hurd seemed just as confused as the rest of us for the reasons behind the current downturn in the US economy and the possibility of a global recession.
In a Q&A following his keynote, Hurd was asked what he thought the reasons were for the current slump, but said the issue was more complex than it appeared.
"I could be here the rest of the morning [trying to explain it]," he says. "It's just too complicated and I've spent my life trying to simplify things.
"It's the first time in my career – and in the careers of many current CEOs – that we're looking at something like this," Hurd says. "What's happened is that all these special credit vehicles have created problems … I just don't know … I have a lot of data, but I think it's going to take time to understand – it's very complex.
"The [lack of] liquidity will affect us," he admits. "People are not getting access to money to invest in their infrastructures."