They say there are such things as Davos moments. This wasn't one, as such, but I found myself in the queue for lunch behind Stephen Roach, one of the world's most entertaining economists (OK, not much competition there) and head of Morgan Stanley in Asia.
This is a man who suggested to the assembled participants in Davos that the world could be headed for the "mother of all recessions". This is, in fact, a man so bearish I half expcted him to ask for a mixture of honey, nuts and berries rather than the array of Chinese-Swiss delicacies laid out for the lunchtime buffet. He didn't, which seems a pity.
Obviously this collection of the rich are worried about a slump; yet they're also worried about the big Sovereign Wealth Funds form the gulf, China, Singapore and elsewhere tht are propping up the west's ailing banks. More of that tomorrow I expect. For now we're looking forward to Condi Rice's turn. Maybe she'll shake em out of their paranoia.

Is this an economics blog? Where is the economics? I don't want to read the economics version "Hello" magazine about who you've met, I'd like some economic commentary...
Posted by: cheale | Thursday, 24 January 2008 at 10:32 PM