Language adjustment

The IMF World Economic Outlook update is out. Despite all the China and financial markets talk, the movement in the forecast is more about the uselessness of BRICS as an economic concept: deeper recessions than foreseen even 6 months ago in Brazil and Russia, extreme sluggishness in South Africa, what the Fund still views as an adjustment and not a crash in China, and strong growth in India.

But anyway, the projection contains its typical sentence from the post-2008 years: Risks to the global outlook remain tilted to the downside.

Why does it never say The projection remains tilted to the upside?

The wealth of the masses

From the Davos-timed Oxfam analysis of global wealth distribution –

In 2015 the net wealth of the 3.6 billion people living in the bottom 50
percent was $1.75 trillion.

That means average wealth for those 3.6 billion people was US$486. It’s a wonder they’re not all trying to move to richer countries, but at that wealth level, they probably can’t afford to!