Davos Elites Begrudgingly Admit "It Takes More Than Propping Up The S&P To Drive Global Growth"

Zero Hedge | 1/21/2019 | Staff
hoppers911 (Posted by) Level 4
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This year's Davos World Economic Forum conference is not for the faint of heart. Pessimism is pervasive - a 180 from the last few years of mutual-masturbation and self-congratulation on a job well done in creating a recovery (in asset prices, if nothing else).

But, as they say, it's different this time, as 'Davos Man' is 'punched in the face' of a global economic slowdown and asset price plunge that most definitely was not in their pre-fight plan.

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Fund - Manager - FX - Trader - Richard

As former fund manager and FX trader Richard Breslow notes, some Davos conferences are better than others. I’ve always resented the ones that were preachy and out of touch. This time around, at least so far, a lot more caution is being expressed, even if tempered with the obligatory notes of optimism.

It’s worth listening... We used to be told that things aren’t great but there was light at the end of the tunnel. Now we hear things are good, but we need to be concerned.

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An appropriate bout of candor. And worth considering as we evaluate just what has propelled equities through well-advertised resistance and whether the latest back-up in yields will have legs beyond periodic auction concessions. Not to mention the populist political impetus that is showing no sign of letting up.

As a sampling of what we’re being told, the IMF has lowered global growth forecasts again. And we are told it isn’t a big deal. I might agree, except that if they keep nudging the numbers lower, eventually it will add up to a real problem that can’t be explained away as technical adjustments. Frankly, it looks like a trend rather...
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