The government says it will look into the suicides and recently formed a committee to prevent the "wave" from turning into a "fad." That a committee formed so quickly is more depressing, because government committees in Taiwan are surely the best way to bury an issue.

Sadly enough, on such a sensitive topic, there is little in the way of fact floating around. To be sure, the suicide rate is climbing, but only slightly-from 10.36 suicides per 100,000 people in 1999 to 10.64 per 100,000 people last year. That adds up to about 2,350 people each year. It's way too early to tell if this year's rate will rise or fall.

Regardless of whether the suicide wave is fact or fiction, the reaction here underscores the sensitivity to a downturn in a country that is so reliant on exports and the information technology industry.

Unemployment is hovering around 4 percent, a 16-year high, and is expected to worsen over the next few months. Exports continue to weaken. Economic growth in the first quarter hit a 26-year low. Moreover, there's elbow room at my local night market-a key negative indicator of consumer confidence.

There is even some talk of a recurrence of the great recession that hit Taiwan in the early '70s. Lots of eyes are on Taiwan Semiconductor Manufacturing Co. (TSMC) and United Microelectronics Corp. (UMC), because as go Taiwan's two most well-known technology companies, so goes the island. And with both struggling to stay out of the red this quarter, so too is the island fighting through one of the worst economic funks in recent memory. After an interview the other day, TSMC chairman Morris Chang said this is the worst downturn he has ever seen. At UMC, the executives are flying economy class.

Yes, things are bad. Nevertheless, a few of the island's tech kingpins are warning people to keep things in perspective.

There's been an "irrational response" to this downturn, said J.T. Wang, chief executive officer of Acer Brand Operations. "The overall demand is still there. People still need a computer, a smart phone or PDA or a mobile telephone."

Undoubtedly, what Taiwan needs right now is a little more patience and confidence. Yet with a shaky economy, politicians who act like kids, and greater commercial and military threats from China all converging at once, that's hard to come by for many people, especially the younger generations, who have never seen such dark days.