The Recession May Be Worse Than Feared...or it may be better [PICK YOUR HEADLINE SINCE WE DON'T HAVE TIME TO THINK ABOUT IT]

SHOOT: It is appalling that these stories appear on the same page of Business Day. Two diametrically opposing views, simply reported, but not interpretted. This blog has been saying for some time that even the use of the word 'recovery' is premature and should be a warning that the commentator is foolishly filled with hubris.

On another note it is interesting to see the JSE has slid below 20 000 while oil has jumped from %53 to $46 and back to $50. Very uncertain times these.

clipped from www.businessday.co.za Global recessionary conditions worse than anticipated - Ramos GLOBAL recessionary conditions are worse than had been anticipated, Absa’s CEO Maria Ramos said today. "At the release of the group’s year-end results to 31 December 2008, we cautioned that global recessionary conditions, brought about by the global credit crisis, were expected to persist during the course of the current financial year."These conditions have proved to be worse than anticipated as the depth and breadth of this crisis remains severe and uncertain," Ramos said in a speech prepared for delivery to the group’s annualgeneral meeting. Read more... Bank business index shows light at end of tunnel for SA   SA’s leading indicator of economic growth, which predicts trends six to 12 months in advance, rose in February for the first time in a year, suggesting the recession may be less severe than feared.