Davos Should Solve Our Problems

Posted by UpsideTrader
on January 27th, 2009

World leaders will converge for some skiing, cocktails and good eats next week in Davos, Switzerland. Corporate big wigs will opine the worlds challenges as they really just grab a break from all the problems in their own backyard. It should be a classic case of misery loving company, as none of them are immune from the risks that still lie ahead. I’m sure Marc Rich will be swinging bare ass from a chandelier as he revels from exiting the global implosion early.

Futures are up slightly as the market prepares to digest more bad news this morning. Dupont reported and cut views as they cite declines in construction, slow auto sales and a decline in consumer spending. The Nikkei was up 5% as exports increased due to a weak yen and talk of the country using public funds to help companies hurt by the financial crisis.

Al Gore is scheduled before the Senate Foreign Relations Committee to address the “urgent need” to combat global warming. The meetings, however, may be cancelled due to a severe winter storm watch.

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