The reason you’re not hearing much from Davos is that the building consensus among western political and business leaders makes Barack Obama look like a fool. Financial experts from all over the globe are standing up at the Davos economic summit and stating flatly that Obama’s plan, bill passed by Congress and now waiting approval from the Senate, won’t solve the issue.
Example, Bloomberg: [1]
It’s “delusional” to expect the U.S. fiscal stimulus plan crafted by President Barack Obama [2] to “jump start” the economy, Stephen Roach [3], Morgan Stanley Asia’s chairman, told a panel in Davos today.
The executives polled by PricewaterhouseCoopers survey don’t see a turnaround soon.
OK, granted that it’s also turned into a “See I told you so” session for Crazy Uncle Hugo, and his ilk… but that kind of nonsense is to be expected. they’re socialists, for Pete’s sake… they don’t understand anything else. But Western business, bank and stock market types from all over the planet are telling Obama what he’s offering won’t work.
It’ll be interesting to see how things play out in the G20 meeting, come April.