A New Problem Emerges For The Davos Elite

zerohedge.com / by Tyler Durden / Jan 16, 2017 1:59 PM

Last night we reported that while snacking on $40 hotdogs, the global financial, political and entertainment elite will be “struggling for answers” and cowering in “silent fear” as the world’s most powerful people face a force they have never encountered before – the rising tide of populism, first demonstrated by the “unexpected” Brexit vote and subsequently by the “shocking” election of Trump. As Moises Naim of the Carnegie Endowment for International Peace put it, “there is a consensus that something huge is going on, global and in many respects unprecedented. But we don’t know what the causes are, nor how to deal with it.”

Adding to the farcical nature of this year’s Davos shindig is that, while one of the main topics of discussion is “populism” and social and wealth inequality, overnight a new Oxfam study revealed that not only 8 people own the same amount of wealth as (the poorer) half of the world, but that since 2015, the richest 1% has owned more wealth than the rest of the planet. It is expected that many of the “eight people” highlighted by Oxfam will be present at Davos.

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