Sunday, January 10, 2016

Davos Masters: Mastering the Fourth Industrial Revolution

The power, greed and leverage class will once again convene in Davos, Switzerland at the 46th World Economic Forum annual meeting.

“There are many challenges in the world today, and I feel that one of the most intense and impactful will be shaping the ‘Fourth Industrial Revolution’ – driven by the speed, the breadth and the complete ‘systems innovation’ of technological change underway. The challenges are as daunting as the opportunities are compelling. We must have a comprehensive and globally shared understanding of how technology is changing our lives and that of future generations, transforming the economic, social, ecological and cultural contexts in which we live.

Central questions that will be asked of the Fourth Industrial Revolution include:

1)  How will it transform industry sectors, including health, mobility, financial services and education? 

2)  How can technology be deployed in ways that contribute to inclusive growth rather than exacerbate unemployment and income inequality? 

3)  How can breakthroughs in science and technology help in solving problems of the global commons from climate change to public health? 

4)  How will emerging technologies transform the global security landscape? 

5)  How can governments build institutions capable of making decisions when the challenges they face are more complex, fast-moving and interconnected than ever before? 

I recognize a few PEU underlying themes.  The answer to unemployment and income equality is technology, which the government must purchase from the private sector.  It's not making America's billionaire class pay a higher tax rate than their secretaries or taxing their investment packaging which now get the treatment of local, safety net hospital..

Governments are responsible for global security and thus must foot the bill for intrusive spying, tracking and monitoring of all citizens.  Nearly every private equity underwriter is in the defense and homeland security space, often monetizing their affiliates by selling to fellow PEUs.

Government has been reduced to the simple task of decision making.  There's no discussion on the central role of government to ensure people are treated fairly.  PPACA, otherwise known as health reform, resulted in the deterioration of health benefits such that many people cannot afford to see their doctor or get prescriptions as they haven't met their absurd annual deductible and don't have the cash to pay for care.  Health reform has turned our nation into one of underinsureds.  Many employers have chosen to drop coverage levels to the point people are insured on paper.  There's no substance to the plan when it comes time for needed care."

Candidate Obama wrote to potential donors in 2008:

"If you're concerned about fairness in our economy, they (Republicans) won't do much to reward work and the workers who create it."
How have you fared under Obama's eight years in office?  My employer provided health insurance turned to junk over the last five years.  Pay has been stagnant, interrupted only by an occasional pittance of a raise 

Ironically last year's World Economic Forum had lots of talk about inequality, which grew by leaps and bounds in America under President Obama.

It's hard to believe this crew will do anything other than further their own nests.  It's been their practice for 46 years.  If they were doing such a great job why would security need to increase tenfold this year?  The Swiss Army will protect the billionaire class with 5,000 troops.

The :BO-PEU portion arose in the 1970's so their contribution to winning the global economy by having workers lose has been a mere thirty to thirty five years.

Enjoy the show of Davos masters adding to their personal pots.  If they have their way we'll be lucky to have one left to piss in.