Gordon keeps muttering about how the world needs an economic early warning system. Despite the existence of the IMF, OECD and countless private sector sources of threat warnings already. Do we need another international bureaucracy?

Gordon ignored the last six IMF warnings, so perhaps he will ignore the IMF forecast that Britain will suffer a worse recession than any other advanced economy. The IMF is projecting that the UK is to contract by 2.8%, the worst performance of any major advanced nation for which the IMF publishes data.

Guido suspects the UK won’t end up going to the IMF because the national debt is sterling denominated, which is just as well because IMF Chief Dominique Strauss-Kahn told Die Zeit this morning;

“Several states are already queueing at our doors… At the moment, we have enough money. But if we actually have to help them, the lion’s share of our resources will be consumed in six to eight months…”

The fund might be empty by the time Britain went…

UPDATE : Things must be really bad. Billionaire George Soros took a commercial flight to Davos. No news as to if he went economy…