In January 2008, as the subprime crisis unfolded, Davos buzzed with confidence

Fred Bergsten of the Peterson Institute for International Economics: “It is inconceivable — repeat, inconceivable — to get a world recession.” 

To be fair, the forum’s 54-page Global Risks Report did include two paragraphs on subprime mortgages.

Simon Kuper FT 21 January 2021

https://www.ft.com/content/a9395f9b-33de-45f6-a5ff-249d578676a7


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