Tag Archives: World Economic Forum

by | July 7, 2020 · 8:00 pm

A “Great Reset” of Capitalism

The world economy is in bad shape and it can be worse. Professor Roubini predict a Great depression, not only for 2020, but for the decade of the 2020`s. What does this crisis we`re in really mean? For someone out there it means a great opportunity. It means a great reset.

«The Great Reset» will be the theme of a unique twin summit to be convened by the World Economic Forum in January 2021. In-person and virtual dialogues will address the need for a more fair, sustainable and resilient future, and a new social contract centred on human dignity, social justice and where societal progress does not fall behind economic development.

Founder and Executive Chairman of WEF, Klaus Schwab wrote in his article called «The time for a great reset» that there is a good reason to worry: a sharp economic downturn has already begun, and we could be facing the worst depression since the 1930`s.

But, while this outcome is likely, it is not unavoidable.

Furthermore, Claus wrote this; to achieve a better outcome, the world must act jointly and swiftly to rewamp all aspects of our societies and economies, from education to social contracts and working conditions.

Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a «Great Reset» of capitalism.

The crisis we`re in, together with COVID-19, will deepen and leave the world even less sustainable, less equal, and more fragile. Incremental measures and ad hoc fixes will not suffice to prevent this scenario. We must build entirely new foundations for our economic and social systems.

Managing Director at IMF, Kristalina Georgieva also had the headline «The Great Reset» a few weeks ago. My thanks to His Royal Highness the Prince of Wales and th Professor Schwab for bringing us together, she wrote in the opening.

Furthermore, she wrote this in her article: Now is the time to think of what history would say about this crisis. And now is the time for all of us to define our own role. Will historians look back and say this was the moment of a Great Reversal? Today, we see very worrying signs.

One hundred and seventy countries are going to finish this year with a smaller economy than at the start of the year, and we already project that there will be more debt, bigger deficits, and more unemployment. And there is a very high risk of more inequality and more poverty.

Unless we act.

So, what would it take for historians to look back at this crisis as the moment of Great Reset?

From the persepective of the IMF, we have seen a massive injection of fiscal stimulus to help countries deal with this crisis, and to shift gears for growth to return. It is of paramount important that this growth should lead to a greener, smarter, fairer world in the future, Kristalina Georgieva wrote.

IMF and WEF see some tremendous opportunities. Heh… It seems like a New World Order is on the way…..

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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by | January 20, 2020 · 4:00 am

President Donald Trump is expected to meet Climate activist Greta Thunberg at Davos World Economic Forum

Last year, people at Davos said it was boring at the World Economic Forum (WEF). It wasn`t as it used to be. It`s probably because Trump wasn`t there. In 2018, Trump joined the club and the globalists in Europe treated him like a rockstar. Trump will joint WEF this week, so what now?

Greta Thunberg is a Climate Activist and she was the person of the year 2019 at Time Magazine. Donald Trump was the person of the year in 2016. The president who didn`t sign the Paris agreement. They are both coming to Davos on Tuesday. Is Climate Change the headline at WEF this time?

WEF founder Klaus Schwab said the forum have changed rapidly in business, society and culture over the last fifty years. The yearly gathering in the Swiss Alps started as a forum for business leaders but now it is also for policymakers and activists as well.

Climate change is here right in front of our eyes and everybody can see it. No doubt. Australia is burning with extreme heat and out-of-control wildfires. We also see melting ice sheets. But, is it the nature going in cycle or is it man-made?

In August 2018, Sweden was burning and that was man-made. A lot of Sweden cars was burning in Gutenburg and many Swedes was horrified because migrant gangs coordinated fire-bombs across multiple cities.

A month before that, a large number of wildfires occurred throughout much of Sweden. It is the most serious in the country in modern history. The summer was unusually warm and dry, significantly raising the risk of fire.

Sweden experienced an unusually long heatwave and had only 13 mm of rain from the beginning of May to late July. May 2018 was the warmest May and July 2018 was the warmest July ever recorded in Sweden.

In March 2019, several wildfires occurred in the south of Sweden, and the risk of fire was unusually high for the time of year.

As of mid-July, temperatues in Scandinavia were more than 10 C (18 F) above normal. Wildfires also occurred in the neighbouring countries like Denmark, Norway and Finland.

Experts say there is more to come.

Anyway, what we see can be catastrophic for the economy and the whole world. Global warming, climate change and the extinction of animal species will effect us all.

There is no doubt that the biggest pollution problems are in Asia, and the worst of them all are China and India. We all know it. We have evidence. We have it on film. We have it on many pictures. No doubt. Millions of people die every year only in China because of their pollution.

Trump didn`t sign the Paris agreement because he said it is too expensive. He wants to create jobs and make people prosper. He is also following his own slogan; America first, and that`s basically why he doesn`t want to shut down the oil and coal industry. The cost is too high.

Leaders at Davos will talk much about the environment and the focus on climate change and sustainable growth will be interesting to watch at WEF this time. It will also be very interesting to see 73 year old Trump arguing against teenager Thunberg.

Trump was like a rockstar last time he visited Davos, and Scwab says Trump is velcome to the Swiss Alps because of his role on the world stage. It was boring at Davos last year, but I bet it will be action again this time.

Schwab said it also will be focus on inclusion and equality; economic development; technology governance; regional development; corporate leadership and ecology, including a project to plant a trillion trees.

The WEF`s mission is cited as “committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas”.

Both, Trump and Thunberg will speak Tuesday on the opening day at the World Economic Forum.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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by | January 12, 2018 · 4:00 am

World Economic Forum`s motto is “Committed to improving the state of the world,” and President Trump will attend

Every year at the end of January, it is time for World Economic Forum (WEF) in Davos. The forum was founded in 1971 by Klaus Schwab. A German-born business professor at the University of Geneva. First named the “European Management Forum”, and then it changed its name to the World Economic Forum in 1987.

Its mission is cited as “committed to improve the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”. President Trump is a business man and he will join the elite at the forum in Davos this time.

The meeting at Davos is synonymous with wealth and elite prestige and Presidents have therefore been concerned to participate because it would send wrong signals. Mr Trump will be the fist sitting President since Bill Clinton in 2000 to attend. Mr Trump is a business man and have an agenda. A message.

That being said; don`t forget the forums motto: “Committed to improving the state of the world.”

Mr Trump is finish with his first year as a President at the White House, and so far he has done a lot of good things, not only for the USA, but also for the rest of the world. But this is only the beginning.

The meeting in Davos brings together some 2,500 top business leaders, international political leaders, economists, and journalists for up to four days to discuss the most pressing issues facing the world.

But Trump`s agenda is not to make the world great again, but the USA. He will also try to sell his «America first» agenda to the world leaders. It is not difficult to understand that he also want to promote his policies to strengthen American businesses, their industry and their workers.

What Trump is doing in the U.S will also affect the rest of the world. For instance, a corporate tax cut in the U.S will also affect other countries. For all I know, maybe other countries will follow his strategy and cut the taxes as well.

Trump is also a great negotiator and he told Stoltenberg at NATO to pay the bills to the U.S Navy, and you know what; they did. This is brilliant. He is making USA more safe, but also NATO members and the European Union more safe.

I think Mr Trump will try to sell his economic growth agenda on the world stage and speak with the World Bank and the IMF, and I really look forward to his speech. It can be full of surprises. His administration said that Trump`s delegation to Davos will be large.

Mr Trump recognized Jerusalem as Israels capital. That can also be an issue if you think of the forums motto: “Committed to improving the state of the world.” We have seen this before.

At the 1994 annual meeting, Israeli Foreign Minister Shimon Peres and PLO chairman Yasser Arafat reached a draft agreement on Gaza and Jerico. Two years earlier, South African President F.W de Klerk met with Nelson Mandela and Chief Mangosuthu Buthelezi, which was the first joint appearance outside South Africa.

North Korea was invited to Davos in 2016, “in view of positive signs coming out of the country,” the WEF noted. North Korea has not been attending the WEF since 1998. The invitation was accepted but after their nuclear test on January 6, 2016 (only days before the meeting), the invitation was revoked.

North Korea`s delegation was made subject to “existing and possible forthcoming sanctions.”

The country protested and called the decision by the WEF managing board a “sudden and irresponsible” move, but the WEF committee maintained the exclusion because under these circumstances there would be no opportunity for international dialogue.

Last year, a head of state from the People`s Republic of China was invited to the alpine resort. With the backdrop of Brexit, an incoming protectionist US administration and significant pressure on free trade zones and trade agreements, President Xi Jinping defended the global economic scheme, and portrayed China as a responsible nation and a leader for environmental causes.

President Xi Jinping rebuked the current populist movements that would introduce tariffs and hinder global commerce, warning that such protectionism could foster isolation and reduced economic opportunity. This is still a hot potato.

Two year ago, the forum announced the opening of its new Center for the Fourth Industrial Revolution in San Francisco. They said the center will “serve as a platform for interaction, insight and impact on the scientific and technological changes that are changing the way we live, work and relate to one another.” Great news at that time.

What about the crypto currency revolution? The cryptobank boom? All this decentralized coins and banking industry with tokens and their «smart contracts» that is flooding the market. Will the world leaders talk about it, and will the central banks answer with a centralized version in the future?

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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by | January 20, 2015 · 6:25 pm

1% of the world’s population will own more wealth than the other 99% by next year

Did you say financial crisis? What crisis? Since the financial crisis the number of billionaires has more than doubled, according to Oxfam International. They has calculated that in 2014 the richest 85 people on the planet owned as much as the poorest half of humanity.

Last year the richest 85 people saw their wealth increase by half a million dollars every minute, and seven out of ten people live in countries where the gap between the rich and poor is worse than thirty years ago.

wef

Today there are 16 billionaires in sub-Saharan Africa, alongside the 358 million people living in extreme poverty. Every year, 100 million people are pushed into poverty because they have to pay for health care.

The executive Director of Oxfam International, Winnie Byanyima released the new report «Richest 1% will own more than all the rest by 2016» yesterday, and she says;

Extreme inequality isn`t just a moral wrong. We know that it hampers economic growth and it threatens the private sector`s bottom line.

The combined wealth of the richest 1 percent will overtake that of the other 99 percent of people next year unless the current trend of rising inequality is checked. Oxfam warned today ahead of the annual World Economic Forum meeting in Davos.

Byanyima will use her position at Davos to call for urgent action to stem this rising tide of inequality, starting with a crackdown on tax dodging by corporations, and to push for progress towards a global deal on climate change.

Wealth; Having it all and wanting more; a research paper published yesterday by Oxfam, shows that the richest 1 percent have seen their share of global wealth increase from 44 percent in 2009 to 48 percent in 2014 and at this rate will be more than 50 percent in 2016. Members of this global elite had an average wealth of $2.7 million per adult in 2014.

Of the remaining 52 percent of global wealth, almost all (46 percent) is owned by the rest of the richest fifth of the world’s population. The other 80 percent share just 5.5 percent and had an average wealth of $3,851 per adult – that’s 1/700th of the average wealth of the 1 percent.

Winnie Byanyima, Executive Director of Oxfam International, said: “Do we really want to live in a world where the one percent own more than the rest of us combined?

Twenty percent of billionaires have interests in the financial and insurance sectors, a group which saw their cash wealth increase by 11 percent in the 12 months to March 2014. These sectors spent $550 million lobbying policy makers in Washington and Brussels during 2013. During the 2012 US election cycle alone, the financial sector provided $571 million in campaign contributions.
Billionaires listed as having interests in the pharmaceutical and healthcare sectors saw their collective net worth increase by 47 percent. During 2013, they spent more than $500 million lobbying policy makers in Washington and Brussels.
Oxfam is concerned that the lobbying power of these sectors is a major barrier in the way of reforming the global tax system and of ensuring intellectual property rules do not lead to the world’s poorest being denied life saving medicines.

Pope Francis and Christine Lagarde (IMF) are among those warning that rising inequality will damage the world economy if left unchecked, while the theme of Thomas Piketty`s best selling book «Capital» was the drift back towards late 19th century levels of wealth concentration.

Oxfam made headlines at Davos last year with the revelation that the 85 richest people on the planet have the same wealth as the poorest 50 percent (3.5 billion people). That figure is now 80 – a dramatic fall from 388 people in 2010. The wealth of the richest 80 doubled in cash terms between 2009-14.

It`s not easy to be rich. Like Jack Ma (Alibaba) said; If you own 1 million you are the luckiest man in the world. If you own 100 million you got headache. If you own 1 billion you have a huge responsibility for the society. Most of the rich end up being philanthropists.

World Economic forum in Davos starts tomorrow.

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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by | January 20, 2014 · 2:16 pm

I have a dream!

The Dow closed the week up +1%, while the S&P finished the week down -0,2%. The week as a whole was mixed. This week will be very special with banks and U.S trading floors closed in observance of the Martin Luther King Jr. Holiday today.

Tomorrow there will be no major reports as the market participants will look for news coming out of Davos Switzerland as the World Economic Forum holds their annual forum throughout the week.

Take a look at the dollar. The dollar Index (DX) has shown some strength in the past. Those levels is not seen since September last year. If the dollar is taking off, it will have a huge impact on commodities and other markets. So, watch out, and pay close attention to the dollar. Will the strength continue?

News today: Bank holiday today. No major reports tomorrow, Wednesday and friday. Only thursday, we will find some interesting reports. Thursday reports will be: Unemployment Claims at 8:30am, Flash Manufacturing PMI at 9:00am, Existing Home Sales at 10:00am, Crude Oil Inventories 11:00am.

MLK I have a dream

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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