When Klaus Schwab, founder and executive chairman of the World Economic Forum started the yearly pilgrimage to the inner sanctums of the Swiss Gnomes, he could hardly conceive that the ritual would turn into a celebrity bash of the super rich. The Davos venue is appropriate. Only rarified air is suitable for the global Mattoids. Billed as an assembly of business moguls, it really is more of an audition of well-heeled speculators vying for inclusion into the real power elites who make or break governments, economies and political destinies.
Using a combination of a Hollywood press agent, Madison Avenue ad firm and a media business channel the CNBC cheerleaders, the Davos clan relishes in their ill-gotten privilege and influence. The too big to fail mantra fits into the nihilism of their cult devotion of manipulated markets.
Globalism is god in Davos. Genuine entrepreneurial business creation shares the wealth across a broad spectrum of contributors. Not so, with those who revere monopolies and use the tools of derivative financing as a means of cabal consolidation. Globalism has achieved one dominant objective; namely, the separation of most depraved from the stark reality of those who pay the price of Free Trade oppression. Feed and fuel the appetites of the Masters of the Universe are on the permanent agenda of the Davos screen.
So what drives the parasites who despise any trace of free markets? Paul B. Farrell in Market Watch pulls no punches with his answer. Ã¢â‚¬Å“But the real motives of the Super Rich are personal wealth, political power, glory. They care little for the masses. They are myopic narcissists, like BlofeldÃ¢â‚¬â„¢s Angels of Death, trained solely to laser in on profit opportunities, marginalizing risks. Sadly, they will never see the next big catastrophe in time, will not act till itÃ¢â‚¬â„¢s too late
Mr. Farrell quotes Francis Fukuyama, author of Ã¢â‚¬Å“The End of History,
Ã¢â‚¬Å“It is well established that income inequality has increased substantially in the United States over the past three decades, and that gains from the prolonged period of economic growth that ended in 2007Ã¢â‚¬â€œ08 have gone disproportionately to the upper end of the richest layer of society.
Yes, Super Rich billionaires grabbed the bulk of economic prosperity since Davos was launched. Fukuyama says Ã¢â‚¬Å“a study by Thomas Piketty and Emmanuel Saez shows that between 1978 and 2007, the share of U.S. income accruing to the top one percent of American families jumped from 9% to 23.5 % of the total. These data point clearly to the stagnation of working-class incomes in the United States: Real incomes for male workers peaked sometime back in the 1970s and have not recovered since.
A joint House and Senate federal government report, Income Inequality and the Great Recession states,
Ã¢â‚¬Å“Over the past three decades, income inequality has grown dramatically. After remaining relatively constant for much of the post-war era, the share of total income accrued by the wealthiest 10 percent of households jumped from 34.6 percent in 1980 to 48.2 percent in 2008. Much of the spike was driven by the share of total income accrued by the richest 1 percent of households. Between 1980 and 2008, their share rose from 10.0 percent to 21.0 percent, making the United States as one of the most unequal countries in the world. Moving even further up the income distribution, the share of income accruing to the wealthiest 0.1 percent of households – those with incomes of at least $1.7 million in 2008 – has grown sharply as well. In short, the evolution of income inequality in the United States is largely driven by the trends at the very top of the income distribution, as very wealthy households have continued to accrue an ever-greater share of the nationÃ¢â‚¬â„¢s total income.
In an important Atlanta Magazine article, The Rise of the New Global Elite, Chrystia Freeland echoes the same conclusions. She quotes from a recent interview of a U.S. based CEO of one of the worldÃ¢â‚¬â„¢s largest hedge funds. In a recent internal debate, he said, one of his senior colleagues had argued that the hollowing-out of the American middle class didnÃ¢â‚¬â„¢t really matter. Ã¢â‚¬Å“His point was that if the transformation of the world economy lifts four people in China and India out of poverty and into the middle class, and meanwhile means one American drops out of the middle class, thatÃ¢â‚¬â„¢s not such a bad trade, the CEO recalled.
Freeland goes on to quote Thomas Wilson, CEO of Allstate, who also lamented this global reality: Ã¢â‚¬Å“I can get [workers] anywhere in the world. It is a problem for America, but it is not necessarily a problem for American business ¦ American businesses will adapt.
By now, it should be exceedingly clear that the economic Ã¢â‚¬Å“best interests of the American middle class is a non-concern for the Globalists. Just how different and removed from normal life are these self-ordained arrogant elites? Based upon money and the power that derives from its use, the Davos crew of post-graduate criminal enterprises stands as high as the Alps.
IBT cites according to Forbes magazine, 69 billionaires from 20 nations are scheduled to attend the economic forum in the Swiss ski resort. By ForbesÃ¢â‚¬â„¢ calculations, the assembled elites have a total net worth of $427-billion, greater than the aggregate GDP of Israel and Egypt combined.
The mentality and disconnect from reality that comes of total disdain for American citizens is embedded in the international mindset. The basis of Totalitarian Collectivism stems from a total rejection of authentic moral principle and respect for individual humanity. The next insight from Ms. Freeland defines the context of the despotism. She cites a 2005 Citigroup report to investors, Ã¢â‚¬Å“the World is dividing into two blocsÃ¢â‚¬â€the Plutonomy and the rest:
Ã¢â‚¬Å“In a plutonomy there is no such animal as Ã¢â‚¬Å“the U.S. consumer or Ã¢â‚¬Å“the UK consumer, or indeed the Ã¢â‚¬Å“Russian consumer. There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take. There are the rest, the Ã¢â‚¬Å“non-rich, the multitudinous many, but only accounting for surprisingly small bites of the national pie.
Davos Globalism is a celebration of the worst in human nature. Greed, self-centeredness, egotism and obnoxious pride underpin the culture of condescension narcissism. An optimistic forecast of a global economic recovery is mere camouflage for rationalization that Ã¢â‚¬Å“Corporatists are endowed with special privileges that give them the power to rule over the rest of civilization.
Even Nouriel Roubini a rock star at the Swiss resort bemoans a lack of joined-up global leadership. He describes trade imbalances, capital flows, water resources, immigration and climate change as Ã¢â‚¬Å“G Zero. Ã¢â‚¬Å“There is complete disagreement and disarrayÃ¢â‚¬Å“, Ã¢â‚¬Å“There is no agreement on anything. We are in a world where there is no leadership. Yet he defends the global economic model and cautions that protectionism is a threat to the internationalists.
If the Davos buzzword is Ã¢â‚¬Å“G Zero maybe the current transnational system is just buying time until the natural reaction from middle class exploration finally erupts. In her conclusion Chrystia Freeland warns,
Ã¢â‚¬Å“The real threat facing the super-elite, at home and abroad, isnÃ¢â‚¬â„¢t modestly higher taxes, but rather the possibility that inchoate public rage could cohere into a more concrete populist agendaÃ¢â‚¬â€that, for instance, middle-class Americans could conclude that the world economy isnÃ¢â‚¬â„¢t working for them and decide that protectionism or truly punitive taxation is preferable to incremental measures such as the eventual repeal of the upper-bracket Bush tax cuts.
Free Trade bears barren fruit for the populace. The Davos sect pontificate on saving the planet from global warming as they roast their compatriot chickens on a spit made by slave labor and imported tariff free. Only the monopolists benefit from an economic system void of genuine free enterprise.
Language used to convey a shared meaning. A common history used to be the bond of a native country. The nomenclature of economics once was based upon objective standards of accounting. The sovereign debt time bomb is proportional to the synthetic accumulation of booty at the expense of a supply and demand axiom. Governments are used as tools by artificial transnational trading schemes that manipulate every aspect of the legal and banking systems. Exploration is a consistent theme in all human endeavors, but in todayÃ¢â‚¬â„¢s New World Order matrix, the final coup de grÃƒÂ¢ce comes at the hands of a global guillotine.
The public exposure from attending Davos suggests that the nouveau riche see this cabaret as a coming out party. The real controllers of the world economy are busy doing the sinister business of consolidation of global resources and finance. SPECTRE may be a fictional global terrorist organization in Bond films. However, the real originators of Terrorism, Revenge and Extortion are the outlaws that pull the strings of the fraudulent global financial system.
The Davos gang revels in the subjugation of the masses in their depression that is now a new way of life for many of our fellow citizens. Elites believe they are beyond the trials and tribulations of ordinary existence. The flight path of a Gulfstream 5 knows no boundary other than gravity. Soon that same gravitational force will extract a sharp pain in the neck. The cry Ã¢â‚¬Å“off with their heads is one commodity that derivatives cannot hedge.