Traders negotiate at the Mercantile & Futures Exchange in Sao Paulo.
After hearing various gloomy pronouncements from members of TIME's Board of Economists, audience member C. Fred Bergsten of the Peterson Institute for International Economics grabbed a mike, stood up and declared that growth in emerging markets is so strong that "a global recession is inconceivable." Now, highly unlikely would have been fine. Or even hard to imagine. But inconceivable? As Mandy Patinkin's Inigo Montoya tells Wallace Shawn's Vizzini in The Princess Bride: "You keep using that word. I do not think it means what you think it means."