HT: Barry Ritholtz

Stephen Roach:
"Only about 20% of a multi-year, Japanese-like adjustment
has [so far] occurred for the American consumer..."

The Work Foundation CEO Will Hutton pointed out in an interview Tuesday with CNBC Europe that just using official forecast guidance and presently available economic data, the UK is set to experience a much sharper contraction than even endured during the severe global recession of the 1930s, and that the UK and much of the rest of the world has ( Read more... )

1930s-style protectionism looms as Davos deemed a failure

Bloomberg: ‘Grimmest’ Davos Ever Brings Anger, Finger-Pointing at BankersThe theme of the World Economic Forum’s annual meeting was “Shaping the Post-Crisis World.” Unfortunately, the assembled executives, policy makers and do- gooders were stuck in the here and now ( Read more... )

So world leaders are confused and have no idea what to do about the current global economic crisis ( Read more... )

Telegraph UK: WEF 2009:
Global crisis 'has destroyed 40pc of world wealth'
The past five quarters have seen 40pc of the world's wealth destroyed
and business leaders expect the global economic crisis can only get worse.Steve Schwarzman, chairman of private equity giant Blackstone, said an "almost incomprehensible" amount of cash had evaporated ( Read more... )

From HuffPoMarcus Baram ( Read more... )

Keeping tabs on Davos...

MarketWatch.com:Davos defines 'optimism' downward
DAVOS, Switzerland (MarketWatch) --
Optimism is an apparently relative concept in Davos. ( Read more... )

Telegraph UK: Warning over collapse in capital flows
The world economy will shrink this year for the first time since the Second World War,
warns the gloomiest forecast yet delivered by a major international institutional.The Institute of International Finance, the global organisation of major banks, predicted an almost unprecedented collapse in ( Read more... )

CNBC/Reuters: CEO confidence plunges around the globeConfidence among leaders of the world's top companies meeting in Davos has nosedived to a new low, with recession and a worsening credit crisis torpedoing faith in corporate prospects ( Read more... )