Friday, January 29, 2010

Glad They're There To Tell Us These Things...

DAVOS—The global economic recovery could lose pace later this year, dashing hopes for a rapid escape from the deepest downturn of the postwar era, economists and investors said at the World Economic Forum's annual meeting at this Swiss ski resort.

Heavy debts will weigh on governments and households in the U.S. and Europe for some time, while hopes for global growth will continue to rest on fast-developing countries such as India and China, predicted participants at the meeting's opening debate on the economy.


This is kind of like a weather man telling you what the current conditions are.

But the real question is, what "recovery" is there that is expected to slow?

Basically they're telling us that there will be no recovery and hope that if they keep edging the "recovery" out far enough that after a while people will accommodate themselves to a more third world level of social and economic lifestyle.