Bill Bonner captures perfectly SLL’s feelings on the annual conclave of the world’s “elite” at Davos, Switzerland. From Bonner at bonnerandpartners.com:
BALTIMORE – What is it about Davos?
Great… powerful… smart people go there…
…and turn into knuckleheads.
We would be there, too. But yet again, the invitation committee seems to have lost our address.
Instead, Donald J. Trump will have to represent us. Maybe he’ll break the evil spell.
Citadel of Globalism
In the Financial Times is a photo of a smiling Christine Lagarde.
The former French finance minister… former partner at multinational law firm Baker McKenzie… former student at the Holton-Arms School for girls in Bethesda, Maryland… and permanent member of the international Deep State Establishment… is now head of the IMF.
Writing in the newspaper, preparatory to her visit to the Swiss citadel of globalism, elitism, and good-intentions-gone-bad, Ms. Lagarde seemed to be picking up on our theme from yesterday’s Diary:
Despite the improved economic outlook, there are still far too many people left out. There is still too much inequality and still a great deal of uncertainty about the future.
How she knows what is “too much” or “too many” was not disclosed. But in the public space, there’s no check on BS.
In private life, “too much” means something… and you pay for it. When you mouth off “too much” to some big guy in a low-bred bar, for example, he will sock you in the jaw.
BS checked. “Too much” clarified. End of story.
But Ms. Lagarde faces no such reality check. “Too much” can be whatever she wants it to be. The BS continues forever.
“In Japan, for example, estimates show that if women participated in the workforce at a similar rate as men, GDP would rise 9%,” Ms. Lagarde goes on.
Would that be a good thing?
We don’t know… and neither does she. People make decisions on what to do with their lives based on private information and personal aspirations, not public GDP BS.
To continue reading: Davos Dumbbells