Once again the elite meet and greet in Davos for their annual kumbaya. Above it all, the recipients of the destruction of the middle class, among others, are appalled at how bad things have become. (Yes, I’ll have another glass of Dom Perignon and make sure the filet is rare!) After the Keynesian experiment of the past several decades, accented from 2008 on, the results have been more debt, more poverty, wage stagnation, accelerating worldwide unemployment, historic low interest rates, recessions, depressions and war.
As the number of attendees in Davos remains about the same and their wealth has grown dramatically, the world’s refugees, food stamp recipients, corner beggars and desperate souls have also grown dramatically. When one wins, millions lose.
The legal system in this country says that a person who steals should go to jail. In addition, the receiver of stolen goods, knowingly, also is part of the crime and should also be held accountable. The attendees in Davos (Yes, I’ll have a Sherry after my ski run) have been the recipients of perhaps the greatest theft of all time. Money printed by the Central Banks and maintained on balance sheets facilitates a deflationary spiral not seen since the 1930’s. Throw in one-offs such as healthcare and living (rent and housing) price increases, the destruction of the middle class was and is inevitable. Money was transferred, check that, money was stolen from the “99” and delivered to the “1”, the folks in Davos. The “1” knew it and gladly accepted. They, like the thieves (bankers), are also criminals and should be cuffed and jailed, not feted at some far away European destination point.
Unfortunately, that will not happen. We will continue to spiral out of control and the mainstream media will fawn over such Davos luminaries as Leonardo DiCapria (a newcomer), who belittles the coal industry on how “greedy” they are. Pink slips anyone? Of course, the “Wolf of Wall Street” and hero of “Titanic” will accept no less than 20 million dollars per picture (Yes, you can send in the masseuse now).
History has shown from such diverse countries as France to Russia, China to Mexico, that when one class so dominates and destroys the other class it is only a question of time until the tables turn. Jail time for the 1% could be light in relation to what potentially could happen to them.
As the American public is always the last to awaken, upheaval may be later rather than sooner, but it will happen. It is happening.
Davos will be a thing of the past.
(My jet is fueled; I guess it’s time to leave)