Blue Point Trading Market View – January 11, 2013
Wealth gap, biggest problem – says Davos 2013. Severe wealth gaps and unsustainable government finances were seen as the biggest economic threats facing the world, says the folks at the World Economic Forum in Davos, Switzerland. Other risks, dubbed “X-Factors,” from the brilliant men of Davos, include the rogue deployment of geo-engineering to counter climate change, or the discovery of alien life, which would challenge many assumptions underpinning religion. The Davos delegates must have thought that last one up in the bar – alien life?
As the chief executives arriving in beautiful Davos, nestled in the picturesque Swiss Alps, on their private jets – these prestigious business leaders and academics main fear to the global economy, is that politicians are failing to address fundamental problems. This is the conclusion of the group’s Global Risks 2013 report, which surveyed more than 1,000 experts and industry bosses. The report also found they were slightly more pessimistic about the outlook for the decade ahead than a year ago.
So, you see … these elites are not the problem, the government is the problem. In fact, you are the problem. After all, are you not part of the “we the people,” the ones that voted into power these politicians? Imagine political pandering to voters with expensive unsustainable government programmes, like wasteful pensions and health care – yes a real problem for these elites. But wait a minute, are not corporations already doing well? Are not the people already taking less? Yes, take a look at the thumbnail chart – this shows this very clearly. So the Davos solution to severe wealth gaps is even more severe wealth gaps – via austerity, to control government spending to the people?
The Davos people can see this wealth gap and it scares them. They know well that it is their schemes that is the cause of this gap. The list of their schemes is long: buying of politicians to get them special government contracts, tax breaks for the rich, tax havens, bank fraud (a week does not go by with out some story on this), undemocratic central bank policies that favor them, third world resource exploitation, war economy, crushing middle class pay to fund CEO salaries, market monopolistic manipulations, etc … Did you hear much talk at Davos on these subjects?
Yes, soon the people with “pitchforks” will be after them. So they have to pretend they care about this wealth gap – but of course, money is like a drug, they can not help themselves. This trend will continue until the crash – they know this – they have reason to fear. The problem is they themselves with the system they have created.
Daily Market View: (click here for the video)