"The world economy is likely to shrink for the first time in decades this year, the head of the International Monetary Fund (IMF) has warned. Dominique Strauss-Kahn's prediction is gloomier than that the IMF's current official forecast of 0.5% growth. He added that trade was falling at an alarming rate and business and consumer confidence had collapsed." - Steven Perez from Bookmarklet

Wow, news flash. The fact that about 1/2 the worlds wealth has disintegrated and more banks are closing faster than Kim Cattrall's legs at a comic book convention didn't tip me off at all. - Peter Ghosh

By the time all of these analysts get around to forecast, we've been in a recession for at least half a year, if not (much) longer. I'd say all this is doing is stoking a fire which needs to be dampened. - Mike Nayyar