Wednesday, January 20, 2016

Davos Opens

The World Economic Forum officially kicked off two days after Oxfam released their report on the impacts of the global economy.

During the period 2010-2015, the total wealth of the world’s poorer half went down from $2.5 trillion to $1.8 trillion, while the total wealth of the world’s 62 richest people went up from $1.2 trillion (not counting undeclared wealth) to $1.8 trillion (also not counting secret wealth). 
Davos featured income inequality in 2015.

“The global inequality crisis is reaching new extremes. The richest 1% now have more wealth than the rest of the world combined. Power and privilege is being used to skew the economic system to increase the gap between the richest and the rest. A global network of tax havens further enables the richest individuals to hide $7.6 trillion.” 

And that's what Davos was engineered to do, serve the captains of industry.  Private equity underwriters are the captains of captains in an industry all their own.