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Davos: reading the sub-text
by dingo Saturday, Jan 26 2008, 11:30am
international / social/political / commentary

It is useful to have the world’s economic leaders and private sector financial ‘geniuses’ together for a summit – we could have bombed them for causing so much misery around the globe! The prognosis from these economic vandals is more gloom, they ought to know they created the situation – don’t you just love the inverted insanity of it all? However, reality must be addressed regardless of whether or not the patients have taken over the asylum.

Jerome Kerviel -- $7 billion loss

According to majority opinion the world is entering (global) RECESSION but the west stands to take the greatest ‘punishment’ – my grandmother could have told you that! But what lies in the sub-text? George Soros, a free market, no borders or national interests capitalist, advocates shifting economic power to the East for very good reason – they are making money over there! Growth figures in some Asian economies are in the double digits – compare to failing western economies, especially the chronically ill American ‘economy.’

What we have really learnt from Davos is that the free world is weening itself off America and its currency standard – cutting it loose so to speak, letting it sink slowly into the mire it has created for itself. It’s not a matter of whether Bush and his neo-cons are clueless it’s a matter of FACT!

Hard reality dictates the EAST as the new economic powerhouse of the globe -- those who dally in failing western markets will perish. World leaders who fail to learn from the REGULATED economies of the EAST will be viewed as liabilities and detrimental to their respective nations – are you listening Kevin? It is clear the laissez-faire western model has failed and the regulated Eastern model is superior. One system concentrates wealth in the fewest possible (incompetent) hands while the other distributes wealth throughout the nation. Distributing wealth throughout a nation creates a SOLID savings and production base, which strengthens it against unstable and fickle market forces.

The rest of the Davos babble is mere gambit and dressing. Regulated economies with broader equity and wealth distribution fare better than the PIG economies of the West – I’m really tempted to 'string ‘em up,' aren’t you? No! You will, when you FEEL what they have done to you and the nation!

CitiBank -- $25 billion loss

http://business.timesonline.co.uk/tol/business/economics/article3257268.ece