headland

As the world’s business and political elites gather today for the 38th World Economic Forum in Davos Switzerland, the mood is dour. Obviously, the volatile week in world markets and the U.S. Federal Reserve’s aggressive 75 basis point cut in interest rates have heightened fear of a U.S. and even global recession. Yet, a pessimistic outlook, and specifically a weakening of confidence in the U.S.A, were expected well before the events of this tumultuous week, as evident gloom pervades the program itself. The agenda includes sessions with these titles:

”Planning for a global recession”
”If America sneezes, does the world still catch a cold?”
”Rebuilding Brand America: Five suggestions for the Future President.

The blurb for this last panel (reported by Trudy Rubin in today's Philadelphia Inquirer) reads:

"Global opinion surveys consistently show that the level of confidence in the U.S. is declining in a number of areas. How should the next U.S. president reverse the trend and rebuild the brand equity of the country?"

In a concession to populist reservations and even hostility to the very idea of globalist summits, the elites have invited the hoi polloi to enter a YouTube contest and answer the Davos Question: “What one thing do you think countries, companies or individuals should do to make the world a better place in 2008?” The highest rated videos are to play in Davos, and, according to the video invitation below, “the great leaders and thinkers in Davos” will upload their responses.