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– Introducing “The Money Oscars” – Jon Stewart on Davos and Financial “Journalists” (Liberty Blitzkrieg, Jan 25, 2014):
Once again, Jon Stewart knocks it out of the park with his unique style of hilarious and cutting social commentary. This time he takes on the orgy of crony capitalists, vacuous celebrities and corrupt politicians that is the World Economic Forum in Davos, or as he calls it, “The Money Oscars.” This is the best Stewart clip I have seen since he recently took it to Chris Christie.
Ok, I totally changed the title. But destroying the middle class and the poor is the plan of the power elite on their one-way road to their fascist New World Order.
– Davos Shocked To Hear That Poor People Exist (ZeroHedge, Jan. 27, 2012):
Ok, I exaggerate. But that’s my cynical first impression after finding the following diagram in the briefing book for the gathering of the good and the great at the World Economic Forum in Davos, Switzerland. (Click for a larger size.)
As you can see “Severe income disparity” is #1 on the Top 5 risks list this year, after having failed to make the short list for the preceding 5 years.
Now it’s not as though the attendees of Davos were completely inattentive to the economic plight of the less fortunate all this time. “Economic disparities” was on last year’s laundry list of risks and was featured prominently in the executive summary of 2011’s report. But the urgency has been ratcheted up quite a bit this year: note the new modifier “severe” and the use of the more specific “income” rather than “economic”. But wait, there’s more.
Compare 2011’s anodyne language:
the benefits of globalization seem unevenly spread – a minority is seen to have harvested a disproportionate amount of the fruits. Although growth of the new champions is rebalancing economic power between countries, there is evidence that economic disparity within countries is growing.
with this year’s:
Dystopia, the opposite of a utopia, describes a place where life is full of hardship and devoid of hope. Analysis of linkages across various global risks reveals a constellation of fiscal, demographic and societal risks signalling a dystopian future for much of humanity. The interplay among these risks could result in a world where a large youth population contends with chronic, high levels of unemployment, while concurrently, the largest population of retirees in history becomes dependent upon already heavily indebted governments. Both young and old could face an income gap, as well as a skills gap so wide as to threaten social and political stability.
They actually used the “D” word. Remember, this is not the research paper of some grad student with a flair for the dramatic. This document was written in part by Swiss Re and Zurich Financial Services — two of the most solid P&C insurers and re-insurers in the world. Their only business is the identification and management of real world risk. When you start hearing the language of Huxley and Orwell on the slopes of the Swiss Alps, then you’d best believe that something fundamental has shifted and that a lot of the rich and powerful are more frightened than they used to be.
For your information.
– Davos: 10 power brokers to watch at the World Economic Forum (Telegraph, Jan. 7, 2012):
In just two weeks’ time, global power brokers will meet in Switzerland in an attempt to pull the eurozone back from the brink of destruction.
Fur and finance, snow and supremacy: there are just two weeks to go before global leaders converge at the World Economic Forum’s annual jamboree in the Alpine resort of Davos.
Off the piste the heady mix of royalty, billionaire tycoons and top politicians are officially tasked with tackling “The Great Transformation: Shaping New Models”.
Rarely has a conference title had more poignant urgency: the European Union leaders’ summit on the advancing debt crisis follows immediately on January 30. Germany’s Angela Merkel, France’s Nicolas Sarkozy, Christine Lagarde of the IMF and Mario Draghi, the boss of the European Central Bank (ECB), are among those most likely to spend the week crafting mechanisms to prevent the eurozone sliding off a precipice.
– Davos World Economic Forum 2011: Live (Telegraph)
World Economic Forum 2010:
Still wonder why the World Economic Forum is endorsing pathetic BS?
Sometimes pictures really do say a lot more than a thousand words.
See the summary at the end of the following article.
World Economic Forum Endorses Fraud; Steve Keen Mocks the WEF Report, So Do I; The Purported “Need to Double Credit in 10 Years”
A few days ago I received an email from the World Economic Forum regarding a need to double credit over the next 10 years. Here is that email.
New York, USA, 18 January 2011 – Credit levels will need to double over the next 10 years, growing by US$ 103 trillion, to support consensus-projected economic growth. This doubling of credit could be achieved without increasing the risk of major crisis, finds More Credit with Fewer Crises: Responsibly Meeting the World’s Growing Demand for Credit, a report released by the World Economic Forum in collaboration with McKinsey & Company. The study develops a detailed global credit model using historical credit volumes and forecasting potential credit demand to 2020 across 79 countries, representing 99% of world credit volume. The study applies a sustainability methodology to the projected credit demand, using newly developed metrics to answer the following two questions: Will credit growth be sufficient to meet demand? Is there a risk of future credit crises and, if so, where?
The accompanying PDF entitled More Credit with Fewer Crises is 84 pages of economic claptrap. The main mission of the World Economic Forum appears to cram more credit down the throats of a world so stuffed with credit it cannot possibly be paid back.
Australian economist Steve Keen found three major flaws in the report. There are many others. Inquiring minds will certainly want to read Keen’s WEF-mocking analysis entitled How I learnt to stop worrying and love The Bank.