So much for the experts

Or commentators at least. From Gideon Rachman in the FT:

The (Davos) meeting took place against a background of crashing stock markets, panicky interest-rate cuts and a massive bank fraud. The global financial system is now so complicated that nobody really knows how deep its problems run. This central “known unknown” means that all the subsequent big questions are much harder to answer. Will America face a serious recession? It all depends. How bad will the knock-on effects be for the rest of world? Search me. How should politicians and regulators react? Difficult to say.

So the august analysis of Mr Rachman is: “I dunno”. Thanks, Gideon.

I’m being flippant though. The thrust of his column is on the looming battles for food, oil and water. Food, you say? Oh, yes. It’s very much on the cards.

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