2009 GDP growth to slow tremendously, says EIU

Remember my piece on there barely being any GDP growth in Oct-Dec 2008? While the mainstream media and the BN crow about 5%+ growth for the WHOLE of 2008 and continue to live in la-la land with expectations of 3.5% growth next year, the Economist Intelligence Unit expects just 1.5%.

I've said it before: I take no pleasure in bearing bad news. But pretending things are fine will not help us. The crunch will be much worse when it hits if we are unprepared. The sooner we accept reality and the faster we take remedial measures the higher the chances for us to alleviate some of the pain.