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Archive for January, 2008|Monthly archive page

DAVOS: Pronouncements From the Sanatorium

In banter, blowback, NEW(S), Uncategorized on January 23, 2008 at 6:55 pm

A World Econ Flow Chart

Part of the big uncertainty is where the bodies are buried – R.G. Rajan, former chief economist of the IMF.

In Davos, the world’s elite are meeting in banquet rooms to discuss our fate. With celebrity appearances and all the usual scribes in attendance, they are making pronouncements from the sanatorium. And the reports so far are downright bizarre.

Talk on high of “Corporate Responsibility” and “Socially Conscious Capitalism”; Talk of “crisis sessions from the hotel suites”. Really? What is this, ANXIETY in the AGE OF GREAT MODERATION?

Bill Gates is slated to issue a call to arms: A New Approach to Capitalism in the 21st Century. “People are asking themselves” said Klaus Schwab, host of the event “What are the boundaries of the capitalist system? They think that the market may not always be the best mechanism for providing solutions.” Has George Soros comandeered the control room with a pack of penitent philanthropists?

Man, this latest Market Crash has got people more than a little worked up? Could it be that the profit reports are finally reflecting what any Joe has been experiencing for years, if not generations? Sweet Jesus, will the lion really lie down with the lamb?

Doing Davos With a Celebrity Friend