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.