Anticipation of recovery is just a fiction, it is not there

This is a quote from the United Nations Conference on Trade and Development (UNCTAD).

We still do not see that this is a real recovery

What they are referring to is a need for greater than 1.6% Global GDP growth for 2010.

Tumbling profits in the real economy, previous over-investment in real estate and rising unemployment will continue to constrain private consumption and investment for the foreseeable future.

The UNCTAD is also pointing to recent commodities increases as pure speculation, increasing excessive risk.