Hugh

Let’s take advice from the Chief Economist of a bank whose share value has dropped 85% in the last 10 years, and expects prosecution for its part in a $20 billion money laundering scheme...

This is the man who said that "notwithstanding the current political crisis, the Russian economy is likely to improve in 1998. Recent indicators point towards faster growth in output and a pick-up in domestic demand as well as a decline in inflation to single digits". Within a few months, Russia dramatically devalued its currency, it defaulted on its debt and suffered inflation of 84%.

He also said in May 2008 that the international monetary system was well placed to withstand the sub-prime crisis, and that a pessimistic outcome was not credible.

So, if you don’t mind, I don’t find his predictions convincing...