Have the butler pack your bags, check your offshore tax haven and head to the private jet for a trip to Davos, where a light breakfast costs a piddling $100. You may not be among the elite at the World Economic Forum, but you can attend virtually thanks to ubiquitous videos and tweets. (Here’s “Dr. Doom” predicting that technology will massively replace white-collar jobs).
“At times like these, survival is the most important thing,” he says, peering through his owlish glasses and brushing wisps of gray hair off his forehead. He doesn’t just mean it’s time to protect your assets. He means it’s time to stave off disaster. As he sees it, the world faces one of the most dangerous periods of modern history—a period of “evil.” Europe is confronting a descent into chaos and conflict. In America he predicts riots on the streets that will lead to a brutal clampdown that will dramatically curtail civil liberties. The global economic system could even collapse altogether.
Now it’s your turn. What should these powerful oligarchs worry about most?
This Week’s Links:
• ‘Social mobility hasn’t fallen’: What this study means and doesn’t mean | The New Yorker
• The NFL’s $1 billion headache isn’t going away | Fiscal Times
• The myth of maximizing shareholder value | Naked Capitalism
• Dimon pay raise mocks accountability | Marketwatch
• How bad was it? The costs and consequences of the financial crisis | The Big Picture
• Industry awakens to threat of climate change | NY Times
Today’s Econ Haiku:
Billions cost, laws breached
And he gets a handsome raise