Doom, tantrums and walk-outs in Davos

January 30, 2009 12:42 pm

God it must be fun being Nourieil Roubini. Once dismissed as a bit of a crackpot by the Davos elite, Dr Doom is now the star of the show – billed as “the man who got it right”. At dinners, seminars and parties, everybody now wants to hear from the great Roubini. What is going to happen next? Nothing very good, apparently - he thinks the US banking system is basically insolvent, and the same goes for Europe.

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Putting away the party hats in Davos

January 29, 2009 4:16 pm

There has always been a certain tension between the World Economic Forum’s slogan – “Dedicated to improving the state of the world” – and the fact that many of the delegates are in Davos to network and go to parties. That is particularly awkward in a year when many of the people here have arguably done quite a lot to mess up the state of the world – by, for example, flogging toxic debt.

Davos has reacted by toning down the parties this year. The closing gala, which usually features dancing and loud music, has been re-branded as a “cultural event” – which sounds really dismal. The tasting of fine wines is not taking place. The investment banks are keeping a low profile.

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Will Davos disintegrate?

January 28, 2009 10:59 am

I am now in Davos and preparing to play my part in “shaping the post-crisis world”, which is the official title of this year’s forum. I must say this strikes me as over-optimistic. The words “shaping” and “post-crisis” seem misplaced. (I will grudgingly accept “world”.)

But what would be a better title for this year’s Davos? “Sinking in quicksand” is closer to the spirit of the times; “Buried under an avalanche of debt” acknowledges our Alpine surroundings; “Up shit creek without a paddle” has an appealing directness and shares the same length and meter as “Shaping the post-crisis world” – so that is my favourite for the moment. But I am open to suggestions.

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Posted in Cancelled parties, China, Economic issues, Notable abscences | Permalink

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