Subprime Crisis Response To Dominate Davos Forum

The hot ticket at Davos last year was the "dialogue in the dark" event, when delegates at the World Economic Forum were plunged into complete darkness to experience the loss of sight. This seems an apt metaphor for the blindness of the world's elite to the fragility of the global financial system.

The business leaders and policymakers flocking to the Swiss mountain resort of Davos this week will share little of last year's jubilation over the strength of the global economy and the prospects for companies. Though the conference is titled "the power of collaborative innovation", it is bound to concentrate on fears of political and economic uncertainty.

Even Klaus Schwab, the founder of the Davos meetings, sounds downbeat: "The discussions in Davos will certainly be very dominated by the economic challenges we have at the moment - the aftermath of the subprime crisis, the transfer of capital from energy-consuming to energy-producing countries, inflationary tendencies."

Or as David Nadler, vice chairman of Marsh & McLennan, the professional services company, echoed: "With so many potential consequences of the 2007 liquidity crunch unresolved, the outlook at the beginning of 2008 is more uncertain than it was a year ago."

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Comments

[realitytrumpsbull]

When the DOW drops to four, and the stock market closes forever, the rich fo'k will battle their way to the boats, and we'll have to start over...may­be next time around, there'll be less global trade...?

[ErnestineBass]

Keynote speech: "Projected Profit Margins in Expanding Markets - Iran and Pakistan".

[Justinpassing]

TJTelecaster, sounds like a good idea except for the fact that everytime a contrctural agreement is let, someone is expecting to get paid and today, many are not getting back their investment­s.....tens of millions of contractual agreements a day for 7 years worth....i­t's like trying to tare down an inverted pyramid...­.only thing that can accomplish that is incompetent fiscal policy coupled with Wall Street Greed....a­nd it's happening and can't be stopped.

[loki]

This forum should be interesting. I can hear it now.

SO, how do we milk more out of these sorry bastards now??