ISI is forecasting some nasty stuff:
Keynesian 'paradox of thrift' is gaining traction, U.S. savings rate will climb to 7.2% (from 1.2% in Sept 2008). Every percentage point increase cuts consumer spending by -1% and GDP by -0.7%.
China real GDP in 4Q2008 at 0% q/q. China real GDP 1Q2009 at 0% q/q.