{"id":64710,"date":"2023-01-13T18:15:41","date_gmt":"2023-01-13T23:15:41","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64710"},"modified":"2023-01-13T18:15:41","modified_gmt":"2023-01-13T23:15:41","slug":"catastrophic-outcomes-davos-elite-worried-about-global-volatility-cost-of-living-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64710","title":{"rendered":"“Catastrophic Outcomes”: Davos Elite Worried About Global Volatility, Cost-Of-Living Crisis"},"content":{"rendered":"
\n

“Catastrophic Outcomes”: Davos Elite Worried About Global Volatility, Cost-Of-Living Crisis<\/a><\/h3>\n<\/header>\n
\n
\n

What happens when plebs can’t afford bread, and the circuses aren’t that entertaining?<\/p>\n

Nothing good. Which is why the cost-of-living crisis is the #1 problem, according to the World Economic Forum’s Global Risks Report – an annual poll of 1,200 government, business and civil society professionals.<\/p>\n

\"\"<\/picture><\/a><\/p>\n

According to the poll,\u00a0there will be little respite from “energy inflation, food and security crises”\u00a0<\/strong>in the coming years (or months?).<\/p>\n

In the near term, nearly 70% of those polled say volatile economies and various ‘shocks’ are in the cards, while 20% or so of those polled say they fear “catastrophic outcomes” within the next 10 years,\u00a0<\/em>according to\u00a0Bloomberg<\/a>.<\/em><\/p>\n

“Very few leaders in today\u2019s generation have been through these kind of traditional risks\u00a0<\/strong>around food and energy, while at the same time battling what\u2019s coming up in terms of debt, what\u2019s coming up in terms of climate,” said Saadia Zahidi, WEF managing director, who warned that\u00a0the world may be entering a “vicious cycle<\/a>.”<\/strong><\/p>\n

“We\u2019re going to need a sort of new type of leadership that is much more agile,” she told\u00a0Bloomberg Television<\/em>.<\/p>\n

Next week will mark the annual WEF conference in Davos, Switzerland, where the global elite will sit around and discuss how best to run our lives.<\/p>\n

The gathering begins at a time when\u00a0inflation is at a four-decade-high across many advanced economies,<\/strong>\u00a0with interest rates far more elevated than anyone was predicting 12 months ago.<\/em><\/p>\n

The report calls for global cooperation,<\/strong>\u00a0and warns that if governments mishandle the current crisis they \u201crisk creating societal distress at an unprecedented level, as investments in health, education and economic development disappear, further eroding social cohesion.\u201d<\/em><\/p>\n

Increases in military expenditure could reduce support for vulnerable households<\/strong>, leaving some countries in a \u201cperpetual state of crisis\u201d and set back the urgent need to tackle climate change and biodiversity loss. -Bloomberg<\/em><\/p><\/blockquote>\n

\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

“Catastrophic Outcomes”: Davos Elite Worried About Global Volatility, Cost-Of-Living Crisis What happens when plebs can’t afford bread, and the circuses aren’t that entertaining? Nothing good. Which is why the cost-of-living crisis is the #1 problem, according to the World Economic Forum’s Global Risks Report – an annual poll of 1,200 government, business and civil society […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[26558,193,2384,24478,13351,14742,889],"class_list":["post-64710","post","type-post","status-publish","format-standard","hentry","category-economics","tag-cost-of-living-2","tag-davos","tag-elite","tag-global-risk-report","tag-price-inflation","tag-wef","tag-world-economic-forum"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64710"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64710\/revisions"}],"predecessor-version":[{"id":64711,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64710\/revisions\/64711"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}