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From Davos "Elvis Has Left the Mountain"- New York Times Columnist

February 3, 2009

and other gems from Tom Friedman's Davos

by staff writer

NEW YORK (RUSHPRNEWS) 02/03/09-- When Thomas Friedman speaks, the world listens.This past week, he was speaking -- writing-- from Davos. As usual, the popular New York Times columnist had a lot to say, and he said it in his own sound-bite "Elvis has left the mountain" way.

A few Friedmanisms worth pondering in the wake of Davos, which was like a play with no title this year. And not only a play with no name, but also with no author, no director, and basically, no actors either. In these times of multiple global financial tsunamis, Davos was a bust.

Friedman, who has a way with words, of course, was telling:

"In its own unpredictable way, the Davos World Economic Forum usually serves as a crude barometer of the latest mood or mania on the world stage. This year did not disappoint."

He went on: "What has struck me is the quiet urgency that infused so many panel discussions and private conversations here between investors, politicians and social activists. To put it crudely: everyone is looking for the guy -- the guy who can tell you exactly what ails the world's financial system, exactly how we get out of this mess and exactly what you should be doing to protect your savings."

And the Elvis mention came here: "But here's what's really scary: the guy isn't here. He's left the building. Elvis has left the mountain. Get used to it."

What did Friedman mean? He means there is no magic bullet for this economic crisis, no magic bailout package, no magic stimulus. He also meant that the guy might be Obama. Read on to see what he really meant.

An anecdote Friedman tells is also telling: "A broker friend told me it reminded him of when he was a teenager and his doctor first diagnosed him as unable to digest wheat products. He said to the doctor, "Well, just give me a pill." And the doctor told him: there is no pill. "You mean I'm just going to have to live with this?" he asked. That's us. There is no pill — not for this mess."

Friedman, a serious thinker, also added some Davos humor: "What is the capital of Iceland? Answer: US$25."

"We're all going to have to learn to live with a lower level of trust in our lives," an African banker told Friedman in Davos.

Some who is the "guy" everyone is looking for? Friedman says it might be President Obama.

"Like Harry Truman, Obama is definitely present at the creation of something. ....That may be President Obama's most important bailout
task: to educate
the country that there is no easy escape here, except taking our medicine, getting our fundamentals right again and working our way out of this, brick by brick, by getting back to making money — what was that old Smith Barney ad? — "the old-fashioned way" — by earning it."

Thomas Friedman. When he speaks, the world listens. This week, too.

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