U.S. game sales expected to exceed $10 billion

So the economy seems to be crumbling all around us, and everywhere we turn, some expert or politician is throwing the word "recession" in our faces. 

Do we panic?  No, we keep buying video games.

Analyst Colin Sebastian of the investment bank Lazard Capital Markets is predicting that U.S. software sales will exceed $10 billion in 2008 despite the country's wobbly economic state.  The gaming industry, he explains, is driven by products:

"Video game industry sales historically are driven by product cycles - in which sales of hardware and software follow a fairly predictable pattern - rather than by consumer spending and GDP growth."

Sebastian has even suggested that the declining economy could strengthen the industry because playing video games is a more "attractive per-hour entertainment value in comparison with other leisure activities, such as movies and vacations."  Hell, who needs sunny beaches when you've got places like Southshore; mind the murlocs. 

Here's to hoping the flourishing video game industry will help us out in the end.