With the world in such an economic, financial, political, and social mess, as it has been for a number of years, one has to wonder what the role, purpose and mission of the World Economic Forum and the more than 5,000 “who’s who” in the worlds of finance, economy, politics and even the arts who meet over a period of 5 days in the Swiss city of Davos. Having this World Economic Forum, as I see it, is like holding a conference of world leading experts in medicine, pharmacy, pathology, and radiology meet to review a patient, and after 5 days of diagnosis, are unable to conclude whether the patient is even sick or not, let alone recommend a treatment and a cure.
With 2,000 corporate members from all over the world, key executives of multi-national corporations, executives who work in banking, finance, hedge funds, electronics, consumers goods, and agriculture meet in discussions and panels with heads of states, with directors of central banks, with policymakers and shakers, with heads of leading NGOs, international organizations such as the United Nations, all of whom meet annually to discuss world’s economic affairs, simply failed to recognize or even forecast the collapse of the US financial and banking industry. If the so-called “best and brightest” failed to forecast the lies and the fraud behind the US housing industry, the lies and fraud behind growth numbers issued by the World Bank and International Monetary Fund, then I can only conclude that there is something terribly wrong with the World Economic Forum, its members and its attendees.
The US and European economic woes were not born today, but born out of a long history of economic, financial and political policies and their impacts on the world economy and citizenship. As such, they should have been forecasted in previous years and measures and recommendations should have been put into place before the collapse we saw on Wall Street, the near bankruptcy of the US national treasury, the financial collapse of countries such as Greece, Spain, and Portugal among others. No one can convince me that some 5,000 of the “best and brightest,” as they may think of themselves, failed to see ahead. Or, alternatively, perhaps they are not the best or the brightest.
One would think that those meetings in Davos would take a serious and in-depth look at all of the issues and problems facing the world economy from the a variety of perspectives including those of governments, those in the business industry, those in banking and financial institutions, certainly from the perspectives of citizens and tax payers!
If those meeting in Davos actually knew what they were doing, the world would not be in the big mess it is in now. The collapse did not come over night. It was brewing for some time… just like a cancer that 5,000 attending physicians simply did not see. Well, it certainly speaks to the competency of those “experts” meeting in Davos.
Not only did Davos fail to see the big mess coming in US and European markets, they also failed to see the forthcoming collapse of dictatorships in Egypt, in Libya, in Yemen, in Tunisia, and in Syria. This is true despite the fact that Davos was holding semi-annual meetings in Sharm el-Sheikh (yes, that’s in Egypt) and in the Dead Sea (yes, that’s in Jordan) right in the heart of the Middle East.
I tried to research the proceedings of the World Economic Forum and see where and when Davos forecasted the collapse of the world economic and financial orders and I could not see it. Perhaps those responsible for the World Economic Forum can share with this audience where and when, including references to the documents and proceedings that addressed these issues before they happened, and if so why there were no emergency decisions taken to address the situation.
In just a few days more than 5,000 people will descend on the beautiful alpine Swiss city of Davos to attend the 2012 World Economic Forum. With costs running in the tens of thousands of dollars per participant, it is not a cheap conference. This must be why average citizens and taxpayers who certainly could not afford it are not invited, and have no place at such a conference.
Only those who can afford the fees are invited to attend. Of course the list of attendees includes the likes of Hosni Mubarak, businessmen behind bars or on the run, include dictators killed by their citizens, and many corporate raiders who killed and murdered well established corporations (Yes corporations are persons and soon Texas will hang few of them). Attendees also include hedge fund managers that looted the wealth and treasury of many countries around the world and those who bet against their own clients. It includes international bankers who took many countries, citizens and businesses down the drain through economic “shock doctrine” causing citizens and taxpayers in countries like Argentina, Mexico and others to lose everything.
Well, let us see what those meeting in Davos have to say this year and how they intend to cure the many ills and economic disorders they failed to forecast, but had no problem causing.