The whisper in Davos – ‘the global depression is here – who goes belly up first?’
Sam Adelton
Jan. 28, 2008

Bankers meeting at the Swiss ski resort of Davos was interesting. The financiers met for the first time as their Blackberries shaking. It was not the temperature. It was financial chill that worries them. They look at each other is disbelief. No one knows how long he or she will have their jobs as one third of them may go belly up on the next eighteen months.

No one is ready to call it a depression. They look at each other and try to avoid the ‘recession’ word. But they know what is coming – the after effects of a global financial meltdown.

As the news broke of an emergency interest-rate cut by the Federal Reserve and Societe Generale SA's record loss at the hands of a rogue trader, they looked at each other confirming a nod that says ‘we have a few months to get things in order for a systematic and orderly sinking of the Titanic.’

The whisper in Davos – ‘the global depression is here – who goes belly up first?’
Sam Adelton
No one is ready to call it a depression. They look at each other and try to avoid the ‘recession’ word. But they know what is coming – the after effects of a global financial meltdown.
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Asian and European stocks decline from CDO meltdown, US depression and global financial ‘thin ice’
Sean Anderson
European stocks are falling apart as we write this article. It is evident that some US financial institutions will go belly up bankrupt soon. They fall out from subprime mortgages continue.
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The black hole of Collateralized Debt Obligation (CDO) depressing world economy and creating financial meltdown
Peter Oberois
The world bought these ‘hypothetical’ assets without having any clue how to price them. Eventually as crude oil price rose, real estate market collapsed, the CDOs became the Certificate of Death Obligations.
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South Carolina rejects Bill Clinton but Democratic Party apparatus still working to sabotage Hillary into the nomination
Kirt Meham
Hillary’s biggest problem is Edwards. It seems it will be Obama-Edward ticket that will challenge Hillary in the Democratic convention floor.
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How can there be US depression if unemployment is at 5%? Why are Fed and politicians so worried?
Sam Adelton
The US depression is the result of underemployment not unemployment. Today in America there are plenty of low paying jobs. . The jobs that are available do not pay anything close to $100,000. They pay close to $20,000.
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$150 billion fiscal stimulus makes no sense other than making things far worse
Deolinda Francisco
150 billion dollar fiscal stimulus package will increase budet deficit, lower the dollar, raise the price of gold and be of no effect to a economy sinking faster then the Titanic.
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South Korean economy grows on Chinese exports but as US depression intensifies over time China and India will drag the rest of Asia down
Paula Ranske
Finally, both Indian and Chinese currencies are going to revalue sharply in the next several months against dollar and euro. That will create serious trouble fro the two Asian economies.
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