The once-ubiquitous term “killer app” seems all dead now, but as the Slowdown of 2008 phases in, now would be as good a time as any for something to stem the tide.

This might do the trick. The Wall Street Journal is reporting that several big-name cable companies are considering ponying up to $3 billion to underwrite a new WiMAX venture from Sprint and Clearwire. The nationwide network would provide high-speed Net access for laptops, cellphones and other mobile devices.

The Journal pegs Intel and Google as other potential supporters. Sprint needs about $3 billion to get the network rolling, and taking it national could run another $5 billion.

All that investment would look mighty nice as it works its way into the pockets of the nation’s electronics manufacturers.