Veteran Journalist Comes Away From Davos With ‘Extreme Depression’



Turkish Prime Minister Recep Tayyip Erdogan’s walking out of a debate with Israeli President Shimon Peres was an unusual moment for the normally staid Davos forum.


Freelance journalist Thomas Crampton has spent the last five days covering the World Economic Forum in Davos, Switzerland, a gathering of government and business leaders from around the world.

Crampton, formerly a correspondent for “The New York Times” and “International Herald Tribune,” tells RFE/RL correspondent Ron Synovitz that this year’s gathering, unlike previous ones, left him with feelings of “extreme depression.”

He says that’s because of wariness among Davos delegates about the global financial system as well as the failure of political leaders to move forward on critical issues like the conflict in the Middle East.

Beware George Soros

RFE/RL: One of the interesting interviews that you posted to your video blog page from Davos was with the billionaire financier George Soros. Could you explain what you learned from that interview?

Crampton: I managed to meet up with George Soros and he spent an awful lot of time explaining how his theory of reflexivity and his theories about financial markets led him to believe that the world was heading to this very, very difficult zone. He felt it long before the actual crisis hit. And he kept hammering about “my theory, my theory, my theory.”

So my question to him was, “Look, if your theory is so great, did you make any money?” This is, after all, the guy who broke the Bank of England. He has a tremendous reputation as a speculator who has been successful in the past.

And, indeed, he said, “Yes. I did do well by the crisis.” And when I pressed him further about how well he did, he said, “I made a fair return.” I found this interesting — seeing that he was following through with actions on his theory and how that he had come to that decision.

What was striking about it, looking ahead, was [Soros’s] pessimism of where we were and how we were going forward. He said that we cannot keep using these standard remedies to try to get out of this financial crisis. And he spoke about using what, in the West, would be considered radical moves to the financial system that are employed in China — by banks reducing their reserve ratios and things that regulators do not normally dare do. Soros’s point was: “Look, this is not a normal time. We are going to need to do these radical moves.”

See also:

From thomascrampton

To save you the trouble of traveling up to Davos for the week, Matthew Bishop, chief US business editor at The Economist and author of Philanthrocapitalism has summarized this year’s World Economic Forum.

58 Responses to “Veteran Journalist Comes Away From Davos With ‘Extreme Depression’”

  1. sliderblaze Says:


  2. justanamericancindy4 Says:

    1stttttttt 🙂

  3. justanamericancindy4 Says:

    damn ……

  4. sliderblaze Says:

    thats right

  5. sliderblaze Says:

    I only watch fox news, but has anyone seen any coverage on the MSM about the protests in regards to Israel, in the US cities?

    i havent heard squat

  6. justanamericancindy4 Says:

    I haven’t heard anything,….. but then I boycot the msm news…..

  7. Tenacity Says:

    Haven’t heard a word lately.

  8. Tenacity Says:

    You might want to repost Tucker’s comment from previous thread.

  9. sliderblaze Says:

    Nice, gibbs got questioned on how one gages if a job was saved. He keeps mentioning public or government jobs that he can gage, nothing on the private sector.

  10. sliderblaze Says:

    a friend sent me to see this video, pretty funny…

  11. cynkading Says:

    Good afternoon everyone,
    Have not posted in awhile due to the funk I am in and will continue to be in for the next 4 years. Still read here daily. I have contacted all of my state representatives concerning the stimulus packages and the billions of dollars to go to Acorn. I did enjoy the fact that the ones on the other end of the phone had to listen to my concerns or better worded as rants. Thought I would pass this e-mail on that was sent a little while ago.

    Date: Sunday, February 1, 2009, 7:28 PM
    > HEADLINES: NOW & 4 years ago – Wow if this doesn’t
    > show us who the class act
    > is!
    > January 2009 – the day of the inaugural (or coronation as
    > some say):
    > 1. Outgoing President George W. Bush quietly boards his
    > helicopter and
    > leaves for Texas, commenting only: “Today is not
    > about me. Today is a
    > historical day for our nation and people.”
    > Eight years ago on inauguration day:
    > 1. Outgoing President Bill Clinton schedules two separate
    > radio addresses
    > to the nation, and organizes a public farewell speech/
    > rally in downtown
    > Washington D.C. scheduled to directly conflict with
    > incoming President
    > Bush’s inauguration ceremony.
    > January 2009:
    > 2. President Bush leaves office without issuing a single
    > Presidential
    > pardon, only granting a commutation of sentence to two
    > former border patrol
    > agents convicted of shooting a convicted drug smuggler. He
    > does not grant
    > any type of clemency to Scooter Libby or any other former
    > political aide,
    > ally, or business partner.
    > Eight years ago on his way out of office:
    > 2. President Clinton issues 140 pardons and several
    > commutations of
    > sentence on his final day in office. Included in these
    > are: billionaire
    > financier, convicted tax evader, and leading Democratic
    > campaign contributor
    > Marc Rich; Whitwater scandal figure Susan McDougal;
    > Congressional Post
    > Office Scandal figure and former Democratic Congressman Dan
    > Rostenkowski;
    > convicted bank fraud, sexual assault and child porn
    > perpetrator and former
    > Democratic Congressman Melvin Reynolds; and convicted drug
    > felon Roger
    > Clinton, the President’s half-brother.
    > As the President Bush left the White House:
    > 3. The Bush daughters leave gift baskets in the White
    > House bedrooms for
    > the Obama daughters, containing flowers, candy, stuffed
    > animals, DVD’s and
    > CD’s, and heartfelt notes of encouragement and advice
    > for the young girls on
    > how to prepare for their new lives in the White House.
    > As the Clintons left the White House – Eight years ago:
    > 3. Clinton and Gore staffers rip computer wires and
    > electrical outlets from
    > the White House walls, stuff piles of notebook papers into
    > the White House
    > toilets, systematically remove the letter “W”
    > from every computer key-pad in
    > the entire White House, and damage several thousand dollars
    > worth of
    > furniture in the White House master bedroom. And, dear,
    > sweet, wonderful
    > super smart and intelligent Hillary steals the White House
    > china.
    > Eight years
    > Headlines 4 years ago: On The Inauguration:
    > “Republicans spending $42 million on inauguration
    > while troops Die in
    > unarmored Humvees”
    > “Bush extravagance exceeds any reason during tough
    > economic times”
    > “Fat cats get their $42 million inauguration party,
    > Ordinary Americans get
    > the shaft”
    > Headlines Today:
    > “Historic Obama Inauguration will cost only $170
    > million”
    > “Obama Spends $170 million on inauguration; America
    > Needs A Big Party”
    > “Everyman Obama shows America how to celebrate”
    > “Citibank executives contribute $8 million to Obama
    > Inauguration”

  12. cynkading Says:

    I just went back to check on a link where Obama’s brother George has been released and his charges dropped over the his being in possession of Marjuana. Poof gone.

  13. justanamericancindy4 Says:

    George Bush might of had his faults… but he always respected the Office of President.
    Suit and tie at all times in the Oval Office.

    You could tell by Bush’s body language, that he didn’t like Bo,.. but he always treated him with Respect.

  14. justanamericancindy4 Says:


    I would say that was weird…… but after the last few months…. well anything is possible

  15. justanamericancindy4 Says:


    I found it… I did a quick search on George Obama

  16. cynkading Says:

    You are so right about that. I have not always agreed with all his decisions but I do admire and respect him. He also has a keen sense of humor and even retained it after everything he has been through. I feel sure that sense of humor has helo him get through some tough times.

  17. cynkading Says:

    helo=helped sorry for the typos…

  18. cynkading Says:

    btw, I did check in on your photos of your puppies. Where did you find the small carriage? They are really growing.

  19. justanamericancindy4 Says:


    I think many of Bush’s bad decisions early on, came about from him listening to Chaney…..

    Bush always had our best interest at heart….
    many don’t realize that, almost twice as many millitary died during the Clinton years than with Bush…. and we were at war these last 7 years!

  20. cynkading Says:

    I still cannot make myself watch the news. I feel like every story that they report on is just some fabricated, planned, got to give the masses a few crumbs, kind of bull.

  21. justanamericancindy4 Says:


    Ohh I found the carriage at a dollar store a few years back. I docorated it..and placed a bear in it for the bathroom….
    couldn’t resist using it when I started taking pics of the pups…..

    lol, they pose quite easliy when they have a full happy belly

  22. cynkading Says:

    Don’t you think that Bush or for that matter ex-presidents in general have a hard time coming out of office. Kind of like they have be reprogrammed so that they can just exist again. I would think that knowing all of the secrets that they have been told would haunt them for ever.

  23. NEConservative Says:

    re George Obama

    quote from that article:
    CNN tracked down George Obama in August 2008 and found him at a small house in Huruma, a Nairobi slum, where he lives with his mother’s extended family. His birth certificate shows he is Barack Obama’s half brother.

    me: if only the so-called prez’s BC was so easily found…..

  24. justanamericancindy4 Says:

    24 hour news should give them ample time to give everything that happen that day it’s 15 minutes….
    some stories hardly get a mention and others they beat to death..

    Right now I’m kind of ticked about Comments I read after an article about Palin….
    Ones that would NOT vote for a woman for any reason…so they voted for BO…. and some of those bashing a woman in power were women!

  25. cynkading Says:

    It sure is quiet aroung here. did I scare everyone off?

  26. cynkading Says:

    I read the posts earlier about how the female gender thing was a stumbling block. Well then how do they justify Hillary and her supporters? They must view her as a shim?

  27. justanamericancindy4 Says:


    they never completely get away…. they still get daily briefings for the rest of their lives..

    GW has earned a rest and I hope he gets it..

    .I was reading the history of all the presidents the other night…… many many early Presidents were quoted to say the two happiest days in their lives where when they were elected into office……. and the day they left…

  28. cynkading Says:

    Has anyone heard anymore about what is going on with Hillary and if any action will be taken on her position?

  29. justanamericancindy4 Says:


    saying hi,… didn’t want you to feel ignored

  30. justanamericancindy4 Says:

    I haven’t heard a word…..

    I haven’t really hear much of anything,… hmmmm but is that a good thing or a bad thing?

  31. cynkading Says:

    Sorry NEConservative,
    Thanks for the info on George Obama. I was reading this morning on Daily Mail about George Obama being released and all charges dropped on him. An hour later the story was gone. I would think this being pretty newsworthy that it would be posted for a little longer???

  32. justanamericancindy4 Says:

    you know George Washington wanted to abolish slavery in the original Constitution??

    But it thought we were too young and fragile as a country to endure such a radical act for the times…

  33. cynkading Says:

    I would have never known that. Thanks for sharing. I went over to Peppermint Patty’s blog for a second. Have been wondering about her and her health.

  34. j.b. Says:

    cyncading, were you able to glean any info on PP?

  35. j.b. Says:

    I don’t recall seeing a post on this, but if I am mistaken, I apologize.

    Leo said he would “one day” tell us what happened to him on the day he filed his case at the SCOTUS. Well, here it is, and it’s a d o o z y
    Check it out.

  36. j.b. Says:

    I guess I should have said, “What he experienced” as opposed to “What happened to him”. So sue me. 🙂

  37. cynkading Says:

    Not too much. She has a wonderful blog mostly about recipes. She has some very thoughtful writings as well. Here is her link.

  38. justanamericancindy4 Says:


    I think Leo bailed again because of those who want to involve the Military in the suits…. have them defy orders…

    The Military until proved otherwise has to behave as if he is a legitimate President. to do otherwise is an act of treason…

    Why I see of a huge case going against BO by all the VFW organizations… as all prior military representing all active military.

  39. j.b. Says:

    Yeah, I got that, jac. I was simply posting Leo’s story about his trip to D.C. Did you read it?

  40. j.b. Says:

    So I see PP posted on her blog as recently as Jan 29th. That’s good news.

    Hey, PP, how are you?

  41. cynkading Says:

    I just read what you posted about Leo. That was riveting. This could make a powerful movie.

  42. justanamericancindy4 Says:


    yeah I read it,…kind of humoris 🙂

    sorry, about getting on the soap box if you took it that way..

    have been thinking about a VFW case.. why couldn’t the retired prepresent the active? ….. just a thought

  43. j.b. Says:

    cynkading Says:

    February 2, 2009 at 8:51 pm
    I just read what you posted about Leo. That was riveting. This could make a powerful movie.

    I recall hearing Leo on Plains shortly after he filed his case and he was still pret-ty shook up and would not say why-now we know.

    No, Jac, din’t think you were on a soapbox, just thought you missed my point. No biggie.

    I’m not feeling so hot-bbl~

  44. rosettasister Says:

    Alcee Hastings was a friend of my father’s many moons ago, so this is very strange for me.

    They were both members of the Southern Christian Leadership Conference.


    Bill creates detention camps in U.S. for ’emergencies’

    Sweeping, undefined purpose raises worries about military police state

  45. rosettasister Says:

    j.b. Says:
    February 2, 2009 at 9:04 pm

    I’m not feeling so hot-bbl~


    Sorry, j.b.

    Please be well.

  46. rosettasister Says:

    I won’t pretend to understand this.

    But I noticed obambi posted this, so I wanted to share it with you.

    From ramdasmayur

    A must watch video for every person on the earth.

    Its a USA that caused this recession and now USA is heading quickly towards GREATEST DEPRESSION.


  47. justanamericancindy4 Says:

    I watched that last night…
    It means for most of US history we never printed more money than we had in gold and silver in the Natural Reserve.. The last few years we are printing WAY more than we HAVE to cover the debt… so making the dollar lose value at an alarming rate……

    does that help?

  48. rosettasister Says:

    justanamericancindy4 Says:
    February 2, 2009 at 10:07 pm


    Thanks, Cindy!

    I really am having a problem wrapping my head around this.

    I don’t trust speculators.

    I don’t trust currency traders.

    But I’ll keep at it.

    Sometimes I think the one thing we could do that would absolutely make a difference in decreasing poverty around the world would be to have one world currency.

    But I don’t believe the George Soros(es) of the world would ever allow that to happen. They’re too busy getting rich off of currency fluctuations.

    Having said that, and really not having a clue what I’m talking about, I was able to find the following which some may find of interest.

    A trader friend of mine there sent me this note…

    “One of HSBC’s bullion customers is a large coin manufacturer – we learned today that the demand for investment coins continues at an astonishing pace – the order book for Q109 has already surpassed C2008. The main order flow is European.”

    So…there you have it! Gold is hot!

    “Gold bounces off US$905-mark as protectionism and money-printing spread”

  49. Fernley Girl Says:

    Two articles related to Davos & the economy at:

    In the Econ Monitor section, two articles by Nouriel Roubini. The first is on Davos, the other, from 01/29/09 about a nearing depression.

  50. Katie Says:

    Here’s the email we just sent to our Senators – feel free to copy and paste if you like.


    When Tom Daschle clears committee review and his nomination for the Secretary of HHS comes to the Senate floor for a vote – I urge you to vote “NO”.

    If you choose to cast your vote in the affirmative – YOU’RE FIRED!!

    Our Choices have consequences.

  51. jjones Says:

    I just got phone surveyed for an upcomming election…state representaive I think. One of the questions was ” would you likely vote for a canidate that voted against a bill that made it legal to shoot some one who was trying to break into your house,even though the intruder was still outside” I replied…”hell, I think it should be legal to shoot them withing a 3 mile radius” 🙂

  52. CADY Says:


  53. Troy Says:

    rosettasister Says:

    February 2, 2009 at 11:03 pm
    justanamericancindy4 Says:
    February 2, 2009 at 10:07 pm


    Thanks, Cindy!

    I really am having a problem wrapping my head around this.

    I don’t trust speculators.

    I don’t trust currency traders.

    But I’ll keep at it.

    Sometimes I think the one thing we could do that would absolutely make a difference in decreasing poverty around the world would be to have one world currency.

    But I don’t believe the George Soros(es) of the world would ever allow that to happen. They’re too busy getting rich off of currency fluctuations.
    Rose, I implore you to do some deep research on this subject….A one world currency is exactly what the likes of Soros and company want….If it happens he will be turning cartwheels….It wouldn’t help world poverty….It would simply eliminate the middle class…..The entire population of the world be leveled to a lower-middle class…..This is exactly what they want….A serfdom society created by those who think they know what is best for us…..Does anyone feel like they need a keeper?…..Does anyone want the government to decide what is best for them?…..Right now the middle class is the only thing standing between a one world currency and government….If we ever see a North American Union and the Amero, then it’s checkmate, game over…..World wide socialism, father government knows best.

  54. rosettasister Says:

    Troy Says:
    February 3, 2009 at 1:43 am

    Rose, I implore you to do some deep research on this subject.


    I will, Troy.

    But I’m beginning to believe that no one has all the answers on this subject or any other.

    And we’re all just flailing along not really knowing what we’re doing and making it up as we go along.

    I’ve never been the “sky is falling” type.

    But I will do my best to seek answers and hopefully arrive at some educated guesses.


  55. Troy Says:

    Never lend faith to a bunch of rich bureaucrats that think they know what is best….They are living in a completely different world than we are and have absolutely no idea of what is best for society….They can only see things from their realm.

  56. Troy Says:

    Obama’s Stimulus Outrage:
    Stop the Biggest Rip-off in American History

    Dear Fellow American:

    President Barack Obama and House Speaker Nancy Pelosi are on the verge of putting into law a $819 billion “stimulus” program — unless they are stopped.

    This program is nothing less than a rip-off of taxpayers like you and me.

    The U.S. Senate will vote soon on this spending boondoggle, one of the most disgusting pork-barrel bills ever presented to Congress.

    And hold on to your hat: The Senate version backed by Majority Leader Harry Reid is even worse — it calls for an additional $71 billion in spending — totaling $890 billion.

    Believe it or not, you can help us stop this bill from ever becoming law if we make sure 40 U.S. senators — all Republicans — oppose the bill.

    Under Senate rules, the Democrats, led by Harry Reid, must come up with 60 votes to stop the Republican filibuster.

    That’s why Obama and his allies are launching an all-out effort to pressure several liberal Republicans to cross over and vote for the package.

    The Democrats also are worried about several conservatives in their party who are up for re-election in 2010 and just might not want to vote for such an outrageous bill.

    You can help us at The National Republican Trust PAC — Go Here Now.

    ‘Stimulus’: Your Money for Illegals, Welfare Recipients, Arts, and Sex

    Just how outrageous is this shameful $819 billion stimulus?

    For starters — and this will shock you — both the House and the Senate programs have a loophole that even gives illegal aliens cash payouts.

    Here’s how The Associated Press explained it: “Undocumented immigrants who are not eligible for a Social Security number can file tax returns with an alternative number. A House-passed version of the economic recovery bill, and one making its way through the Senate, would allow anyone with such a number, called an individual taxpayer identification number (TIN), to qualify for the tax credits.”

    In case you didn’t know it, any illegal can get a TIN number from Social Security, no questions asked.

    This means illegals who broke the law to get here will be eligible immediately for federal cash — up to $1,000!

    It gets worse. Let me detail for you some facts from the “stimulus”:

    More than $4 billion is earmarked for “neighborhood stabilization activities” — money that will go to groups like ACORN, which worked closely with the Obama campaign, the same group accused of massive voter fraud.
    Almost half of the proposed spending will directly benefit the Service Employees International Union, federal, state, and municipal employee unions, or other Democratic-controlled unions, according to writer Ben Stein.
    $600 million goes for news cars for top government bureaucrats.
    Obama promised major infrastructure projects — yet only 5 percent of all the money goes for this.
    $50 million for the National Endowment for the Arts.
    $75 million to fund anti-smoking programs.
    $650 million for the switch from analog television to digital.
    $335 million to help prevent the spread of sexually transmitted diseases.
    $600 million for “climate change” research programs.
    This is just a small part of the long laundry list of trivial, weird, and simply outrageous programs being funded in the Obama stimulus bill, which goes on for 680 pages — so long no one in the House was believed to have read it before voting for it!

    Just to show you the tremendous waste, there is so much money appropriated in this bill you could give every unemployed person in the nation a check for $75,000 for the amount being spent.

    Help us stop this disgusting pork bill — Go Here Now.

    It’s Just a Payoff for the Election

    Frankly that would be a better way to dispense the funds than what Obama wants to do.

    He and his Democratic allies are simply wasting hundreds of billions of our money in a clear “payoff” to Democratic Party interest groups and unions that backed him and the Democrats in Congress during the last election.

    The truth is that Obama and Congress could have created economic stimulus by across-the-board tax cuts for all Americans, and tax incentives for businesses to hire new workers and use their capital for new purchases — instead hundreds of billions of dollars are going to bolster federal and state welfare programs.

    Former House Majority Leader Tom DeLay put it best when he said Obama’s program is “just complete, out-and-out writing of checks to people that don’t pay taxes. These are welfare checks that are called tax cuts.”


    You better believe it. The Democrats are making Freddy Krueger look like a reasonable fellow.

    You Can Still Stop Obama and This Rip-Off

    This week the Senate will debate on the stimulus program.

    Obama, who promised a new era of bipartisanship, had little interest in including Republican ideas in his program.

    GOP House members, who had been wooed by Obama, were so outraged by the partisan nature of this wasteful stimulus program that every Republican voted against it.

    Obama knows he can’t get his plan through Congress if this happens in the Senate.

    That’s why his team has shifted from claims of “reaching out” to the GOP to out-and-out hardball politics.

    For example,, the leftist group that Obama worked closely with to get elected president, is launching a full-scale media campaign to pressure Republican senators to vote for the stimulus.

    Last week the group announced it is targeting five U.S. Republican senators, demanding that they support Obama’s stimulus.

    The MoveOn ad includes a clip of Obama claiming that his plan will create 3 million new jobs and urging them to call their senators.

    Well, we at The National Republican Trust will soon launch a similar program.

    But we plan on taking out ads in these key five states to expose the stimulus program for its outrageous waste of taxpayer money.

    And we will do even more. We also plan on taking out ads targeting five conservative Democratic senators up for election in 2010.

    We will remind voters just what their senator may be voting for.

    We need to move on our plan quickly. We need your help to do it.

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    We Are Fighting for You, the Taxpayer

    We urgently need funds as the Democrats have massive resources from unions and other special interests. We just have you.

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    We spent more than a $1 million in that race — including running TV ads exposing Obama’s plan to give illegal aliens government benefits.

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    Dick Morris, the famous Fox News analyst, calls The National Republican Trust “the most powerful voice in the Republican Party today.” Dick says we are the Republican version of MoveOn, but even more powerful.

    But we never forget that our power and influence comes from you. We don’t have plush offices and highly paid bureaucrats running our organization.

    We are a grass-roots movement of Republicans who believe in our country and believe our great party must stay consistent with the principles of Ronald Reagan.

    We believe we can defeat Obama’s massive stimulus boondoggle.

    We don’t need the tens of millions of dollars that MoveOn and Obama’s union friends will spend in their campaign.


    Because we have truth on our side. When the American people hear how their senators plan on spending their hard-earned money, they will be horrified and shocked.

    That’s why we need to get our message out urgently!

    We have just days to do it.

    Help us today. Go Here Now.

    Thank you, and God bless our nation.

    Yours for America,

    Scott Wheeler

    P.S. Remember — you can donate up to a maximum $5,000 per person. If you donated the maximum amount during the last election, you can once again donate the maximum amount because we are in a new election cycle. And don’t forget we have a track record of being highly effective — so your money is not wasted. We need to counter MoveOn and the big unions. Help us do it — Go Here Now.

  57. rosettasister Says:

    Troy Says:
    February 3, 2009 at 2:27 am

    Never lend faith to a bunch of rich bureaucrats that think they know what is best….They are living in a completely different world than we are and have absolutely no idea of what is best for society….They can only see things from their realm.


    Yes, I would have to agree with everything you’ve written here.

  58. rosettasister Says:

    Solving all the world’s economic woes will have to wait until the morning.

    24 is about to start.

    Opiate for the masses.

    Good night, good people!

    New Thread:

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