Nearly every economic forecast will come true at some point. It's just a question when. Poor economic forecasts can be a bit like a broken clock; it shows the correct time twice a day, when the hour comes around.

http://www.bbc.co.uk/news/business-12294332

The US budget deficit will hit $1.48tn (£930bn), or 9.8% of economic output, this year, a spending watchdog said.

It is a record deficit in dollar terms, and almost equals the 10% of GDP overspend recorded by Washington in 2009 at the depth of the recession.

The Congressional Budget Office (CBO) revised up an earlier deficit estimate of $1.07tn after President Obama agreed a new stimulus package with Congress.

That package extended Bush-era tax cuts and prolonged unemployment benefits.

"The United States faces daunting economic and budgetary challenges," said the CBO in the introduction to its latest budget outlook report.

The Office - which is tasked by the US legislature with providing non-partisan assessment of the evolution of the federal government finances - said deficits were predicted to fall sharply over the medium term.

http://www.bbc.co.uk/news/business-12291143

India's prime minister has warned that the country's rapid economic growth is under "serious threat" from inflation.

Manmohan Singh said getting inflation under control was a matter of urgency, raising the prospect of an eighth interest rate rise in under 12 months.

Emerging markets like India, where GDP growth is running at 8.5%, are helping to drive global economic recovery.

But Mr Singh said India's inflation rate of 8.4% - and food price inflation of 17% - was unsustainable.

"Inflation poses a serious threat to the growth momentum. Whatever be the cause, the fact remains that inflation is something which needs to be tackled with great urgency," he said.

Analysts believe that surging food and oil prices mean that India's central bank may have to raise interest rates before its next policy meeting, which is scheduled for 17 March.

India's stock market has fallen this year on fears that high inflation will scare off foreign investors.

Wages in India are also rising as workers demand pay that keeps up with the cost of living.

http://www.bbc.co.uk/news/business-12363201

"If I came here today, it is to tell you that everything is inextricably linked. Brexit, Trump, the elections of March 2018 in Italy are part of a whole ", said Steve Bannon the evening of September 22 in Rome, referring to elections generally described by the press as a victory of populism. Donald Trump's former adviser was the guest of honor at the annual Fratelli d'Italia party two weeks after meeting Matteo Salvini, leader of the anti-immigration party La Ligue and strongman of the Italian government.

"Do not forget one thing: the Davos party hates you and what you represent, "said the American to his Italian audience, adding that a "Davos party would mean the end of the human species", according to statements reported by Le Monde. He also advocated "a total rejection of what the elites have imposed on Western civilization," and told the activists of Fratelli d'Italia: "Our culture and our civilization have been passed down from Athens, Jerusalem and Rome through the centuries. It's on your shoulders."

According to the newspaper, Steve Bannon praised Russian head of state Vladimir Putin, the US president's former close friend, assuring "that his opponents hate him more than they hate the USSR.".

Former boss of the pro-Trump Breitbart news site, Steve Bannon has been leading an anti-European Union campaign for several months, which has led him to several capitals, where he has systematically lashed out at elites, bureaucracy and traditional media.

Translation by Jules Letambour

https://francais.rt.com/international/54103-parti-davos-vous-deteste-rom...

The "elite" Bannon is talking about are the manipulators of your future:

The Transnational Institute describes the World Economic Forum's main purpose as being "to function as a socializing institution for the emerging global elite, globalization's "Mafiocracy" of bankers, industrialists, oligarchs, technocrats and politicians. They promote common ideas, and serve common interests: their own."[61]

A study, published in the Journal of Consumer Research, investigated the sociological impact of the WEF. It concluded that the WEF do not solve issues such as poverty, global warming, chronic illness, or debt. They have simply shifted the burden for the solution of these problems from governments and business to "responsible consumers subjects:

the green consumer, the health-conscious consumer, and the financially literate consumer." They merely reframe the issues, and by so doing perpetuate them. Gore is singled out as a prime example. Gore's speeches deliberately shift focus away from the problems of unregulated markets and corporate activities to one of moral pathologies, individual greed, etc. In doing so he is actually promoting the creation of new markets, and hence perpetuating the same old problems in a new guise. New markets will follow the same patterns as the old ones because the core problem of corporate governance is never addressed.[62]

During the late 1990s the foundation, along with the G7, World Bank, World Trade Organization, and International Monetary Fund, came under heavy criticism by anti-globalization activists who claimed that capitalism and globalization were increasing poverty and destroying the environment. Ten thousand demonstrators disrupted the World Economic Forum in Melbourne, obstructing the path of two hundred delegates to the meeting.[63] Repeatedly, demonstrations are held in Davos (see Anti-WEF protests in Switzerland, January 2003) to protest against what have been called the meetings of "fat cats in the snow", a tongue-in-cheek term used by rock singer Bono.[64]

After 2014, the protest movement against the World Economic Forum has largely died down, and Swiss police noted a significant decline in attending protesters, 20 at most during the meeting in 2016. While protesters are still more numerous in large Swiss cities, the protest movement itself has undergone significant change.[65] Around 150 Tibetans and Uighurs protested in Geneva and 400 Tibetans in Bern against the visit of the Chinese president for the 2017 meeting, with subsequent confrontations and arrests.[66]

Read more:

https://en.wikipedia.org/wiki/World_Economic_Forum

Read from top.

Russia will participate in January’s prestigious business and political meeting in Switzerland, the WEF announced on Sunday. Managing director and head of compliance at the organization, Alois Zwinggi, said he is pleased to learn that Moscow would be sending “a high-level governmental delegation to Davos,” his statement reads as cited by media.

READ MORE: ‘Davos billionaires want business as usual, but world’s problems need scientists & engineers’

“I am pleased that after discussions with all relevant parties, careful consideration of international legal frameworks and strong support from the Swiss government, we are able to host business and political leaders from all G20 countries,”Zwinggi said.

The official added that if the delegation from Russia includes sanctioned individuals, “all necessary measures have been undertaken to ensure that their presence would be fully compliant with current legal conditions.”

Read more:

https://www.rt.com/business/446653-russian-businessmen-ban-davos/