{"id":30304,"date":"2018-01-29T12:53:49","date_gmt":"2018-01-29T17:53:49","guid":{"rendered":"http:\/\/olduvai.ca\/?p=30304"},"modified":"2018-01-29T12:53:49","modified_gmt":"2018-01-29T17:53:49","slug":"theres-anger-building-out-there-one-mans-message-to-davos-elites","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=30304","title":{"rendered":"“There’s Anger Building Out There” – One Man’s Message To Davos Elites"},"content":{"rendered":"
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“There’s Anger Building Out There” – One Man’s Message To Davos Elites<\/a><\/span><\/h3>\n<\/div>\n
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One man went to Davos and dared to say what Pepe Escobar thought no one would<\/a> – that “it’s the inequality, stupid.”<\/strong><\/em><\/p>\n

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Amid all the back-slapping exuberance of record high global stock markets and record high global net worth, John McDonnell, the U.K. opposition Labour Party’s spokesman on finance, came to the World Economic Forum in Davos with an uncomfortable message for the global elite<\/strong>…<\/p>\n

\u201cI just warn the Davos establishment: There\u2019s an anger building out there that you need to recognize and deal with,\u201d<\/em><\/strong><\/p><\/blockquote>\n

As Bloomberg reports, <\/em><\/a>most delegates in Davos have adopted an upbeat tone this week<\/strong> — reflected in the optimism of top bankers at JPMorgan Chase & Co. and Deutsche Bank AG who told Bloomberg they see a continuation in a global boom in dealmaking.<\/p>\n

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But as McDonnell warns, there\u2019s an \u201cavalanche of discontent\u201d out there among the masses.<\/strong><\/p>\n

But in the Swiss resort, \u201cthere\u2019s almost a sense of euphoria, it is extraordinary, and I think there\u2019s a sense of complacency.\u201d<\/em><\/strong><\/p>\n

McDonnell\u2019s warning carries weight because he would be chancellor of the exchequer if Labour came to power — something investors are preparing for.<\/p>\n

\u201cOut there, beyond the Davos compound, many people — we saw it in the Oxfam report — feel the markets have been rigged against them, not for them,\u201d<\/strong> McDonnell said.<\/p>\n

\u201cWhen they\u2019re told we\u2019re coming out of that recession, growth is returning and they don\u2019t feel they\u2019re participating <\/strong>in the benefits of that growth, that\u2019s when people become really alienated and angry.\u201d<\/strong><\/p><\/blockquote>\n

Bloomberg reports <\/a>that McDonnell then laid out a recipe for regaining the trust of the masses, including:<\/p>\n