The International Monetary Fund (IMF) is forecasting global GDP growth of 4.2% for 2011 and an average of 4.6% for 2012-2015.

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David Jones, president of the DMJ Advisors LLC, and a former Wall Street Fed watcher for 35 years, is forecasting 2012 GDP growth at a 2.75% rate.

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Economists have gone from forecasting 8 percent GDP growth to now under 8 percent and inching closer to around 7.5 percent, not far from the 7 percent that economists say would constitute a hard landing.

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