Recession ?
2 12 2007I’ve been writing more than a year now on an upcoming black global recession in which the emerging countries of the Southern hemisphere will be best off. Times of denial seem to be over now: 21.300 articles on Google news mentioned the word ”recession” last week and I’m sure that number will be up next week. Belgiums is still somewhat slower (310 counts). In the 2002 bust we had the same phenomenon of Belgian journalists still doing their rosy interviews when the bubble was actually bursting. Don’t expect much foresight from a Belgian journalists.
Actually, don’t expect much foresight from the Belgian economical planbureau either. Here you can read their full projections of the Belgian economy in 2008. I promise that on December 2008 I’ll dig up this September 2007 report and compare the actuals with the projections; it’ll be a very unpleasant experience.
Next Sunday an update of the weekly Google recession barometer.
My wife’s uncle Herman is also predicting a serious recesion hitting Europe as a US nuclear fallout. Not sure how this will really make a lot of difference in the BE invesment community, as for ever worse, the BE investors don’t really invest as such.
I completely second Herman’s gutfeel. Whereas the last 9 months some voices raised the question *if* a recession would hit the US. Now those voices question how hard the recession will hit the US. I’m truly surprised how little media attention the current outfall is getting. And yes the decoupling dreams for Europe are utopic; we’re gonna go hand in hand on our knees with the US.
That being said: moments like these are the moments to grasp opportunities for well-prepared entrepreneurs with a strong stomach:
http://www.theglobeandmail.com/servlet/story/RTGAM.20071126.wgtmedia1126/BNStory/Technology/home