FortySouth

The contracted global economy is literary palpable with unemployment numbers going through the roof.

The World Bank recently projected that the global economy will shrink in 2009, with growth in the developing markets dropping from 4.4% to 2.1%. They also project that recovery will commence in 2010 albeit at a slowed pace.

What’s more interesting is that the recovery depends on where in the world you live:

A curious note is that the most substantial GDP growth is registered in the emerging markets, especially in Asia.

I sat in today on a talk by Steve Forbes, Chair and CEO of Forbes Inc., Editor-in-Chief of Forbes Magazine and former Republican Presidential candidate, as he offered his view on the current economic crisis – how it came about and what should be done to lift the US economy out of the slump, plus what he thinks of Barack Obama and the task that lies ahead for him.

A few take-aways from the talk. Continue reading