During the 2008 Presidential campaign, then candidate Barack Hussein Obama preached that 3% of the world’s population cannot continue consuming 25% of the world’s resources. “The rest of the world will not stand for it,” he proclaimed. Obama’s plan to reduce US consumption from 25% to 3% appears to be working.
Just three years since America began dragging the world into its deepest recession in seven decades, Goldman Sachs Group Inc., Credit Suisse Holdings USA Inc. and BofA Merrill Lynch Global Research are forecasting that this time will be different. Goldman Sachs predicts worldwide growth will slow 0.2 percentage point to 4.6 percent in 2011, even as expansion in the U.S. falls to 1.8 percent from 2.6 percent.
















