In Silicon valley, the unemployment rate is 11.8%. Now there is also another ghost town brewing, similar to the one during the dot con bust. Rows and rows of empty buildings, empty office space to be exact.

Unemployment in the San Jose-Sunnyvale-Santa Clara metro area that includes Silicon Valley was 11.8 percent in November, down from the August record of 12.1 percent, according to California’s Employment Development Department. Applied Materials Inc. and Sun Microsystems Inc. in Santa Clara and Adobe Systems Inc. in San Jose announced more than 5,000 job cuts since October amid falling sales of computer chips, software and equipment.

About 21 percent of Silicon Valley’s Class A office space is vacant, as is 20 percent of low-rise so-called flex or research and development space for offices or manufacturing.

Oh yeah, we need more guest workers, so what? They will rent these overpriced commercial real estate assets? I don't think so.

We need more government funding and a requirement to hire U.S. citizen STEM professionals.