Notes From Underground: The Rallying Cry Remains, “Pepper Spray Davos”

We at Notes From Underground have published more than 1,000 posts during the last seven years. I have voiced my displeasure about the annual gathering in Davos for the past five years (last year’s Davos post is below). My battle cry was (ans continues to be): PEPPER SPRAY DAVOS, a response to the heinous police overreaction to the pepper spraying of University of California–Davis students in November 2011. The police POURED pepper spray onto student protesters, a contemptible act of police brutality. I thought if the UC–Davis students were subjected to such a police response for blocking a sidewalk the crony capitalists of global monopolies are surely worthy of such a contemptuous action. The corporate chieftains and their political sycophants, who exchange “insider views” for large speaking fees (and of course a hope to secure a job after leaving political office), have badly damaged the world.

Yes, I know much “GOOD WORK” has been done at Davos. Unfortunately, it has benefited the very few. The basis of my Davos skepticism for 20-plus years is my failure to understand why anyone would pay $600,000 for a full ticket. The media flocks to the Swiss resort because they crave access to the world’s high and mighty but I guarantee that nothing of significance gets reported for those with access will never turn on their HOSTS. The Davos meeting sets the week as we get the ECB meeting on Thursday and the Trump inauguration on Friday. Also, the Bank of Canada meets on Wednesday but no change expected. British Prime Minister Theresa May speaks on Tuesday and Yellen follows on Wednesday.

May is expected to reveal a more defined Brexit plan but I think the market has already pushed the British pound so low that there’s a greater risk of a pound rally. The significant drop in the British pound since the Brexit vote has led to a FOOTSIE rally of 28%. (Although foreigners who have purchased POUNDS have seen their gains eroded by the currency’s depreciation.) However, before the vote the British currency was severely overvalued relative to its current account deficit. The British current deficit has doubled since the onset of the Great Recession, so ultimately a correction was needed. The weakened currency will help alleviate some of the problems of the current account deficit.

During the weekend, President-elect Donald Trump gave a joint interview with the Times of London and the German newspaper Bild. He raised the ire of the Davos crowd when he noted that the EU was a “vehicle for Germany and predicting other countries will follow Britain in leaving the bloc.” He warned that his trust for Chancellor Merkel “… may not last long at all.”

I will get into this more for as my readers know I have voiced concerns about the ECB and the EU and have made it my focal point for 2017. In the severe criticism leveled at Trump about Putin I say to the Germans: Where is the concern about Gerhard Schroeder, the previous Chancellor before Merkel, holding a major job at the Russian oil giant GAZPROM and being very close with Vladimir Putin? This issue is of very great concern in analyzing EU relations with Russia. But for now I am going to dry my eyes as Davos always brings tears to those genuine global capitalists who suffer from the irritation of cronyism at the highest level.

Please, PEPPER SPRAY ALL THE ATTENDEES OF DAVOS in order to halt the rape of taxpayers and consumers across the globe. This annual conclave is responsible for more wealth destruction and the widening disparity in GINI coefficients than any public policy. I believe that the cost of attending Davos is priced at such an extravagant rate because it is a giant insider scam. Hobnob with politicians and policy makers in an effort to be part of the “smart money” crowd. It was the great moral philosopher and economist Adam Smith who so presciently noted: “People of the same trade seldom meet together, even for the merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.” The conspiracy against the public has been the financial repression of the global middle class in an effort to bail out those who have attached themselves to the public treasury to maintain the “animal spirits” of crony capitalism.

The cost of an entrance pass to this private/public  congress of mover and shakers should sound an alarm to all those who desire transparency in financial markets. In contemporizing the words of Adam Smith, Samuel Huntington was credited in the online research cite, Acton Commentary, as creating the phrase DAVOS MAN: “A soulless man, technocratic, nationless and cultureless, severed from reality. The modern economics that undergirded Davos capitalism is equally soulless, a managerial capitalism that reduces economics to mathematics and separates it from human action and human creativity.”

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15 Responses to “Notes From Underground: The Rallying Cry Remains, “Pepper Spray Davos””

  1. kevinwaspi Says:

    For a non-profit foundation founded in 1971, the world economic forum has strayed far from its roots. Now, the Davos crowd tries to fulfill that dream of Rothschild: “Let me issue and control a nation’s money and I care not who writes the laws.” Mayer Amschel Rothschild (1744 – 1812) Let’s start a gofundme site for the purchase of pepper spray.

  2. Rob Syp Says:

    http://www.cnbc.com/2017/01/17/davos-elite-in-bubble-so-didnt-predict-brexit-trump-wpp-martin-sorrell.html

    Oscar’s have the Razzies…. We should start SOVAD Davos spelled backwards get a few like minded people to meet at the Billy Goat for cheeseburgers and beer lower Wacker Drive.

    Mike Royko would be proud he can be the Sargent at Arms.

  3. Rob Syp Says:

    Sorry for posting a non financial story but the story of Ernst Kirchner’s German painter’s life and untimely death in Davos needs to be told.

    http://www.cbsnews.com/news/the-tragedy-of-avant-garde-artist-ernst-kirchner/

  4. Arthur Says:

    Davos, Sun Valley, Bilderberg, Milken Institute, G100, Clinton Initiative, Aspen Festival, Boao Forum, etc. It’s all part of the game.

  5. kevinwaspi Says:

    Rob,
    Sign me up for Billy Goat’s, I’ll bus the tables and get much more out of it than at Davos

  6. Chicken Says:

    Cheeseburgers and beer + sounds great, count me in. 🙂

  7. Rob Syp Says:

    Per Yra’s permission call it The 1st SOVAD convocation hosted by Notes from the Underground. Or we can call it whatever someone would like to.

    Sam Sianis will enjoy having us….. Over the years Santelli has bet various people mostly Steve Liesman over cheeseburgers.

    We can start with days and times that work best for the people who would like to attend. Who wants in please reply with your name and days & times coming up that work and will take it from there.

    So far we have Kevin Waspi, Chicken and myself. All we need is the Grand Poobah Mr. Harris on board to bless the event. Thinking more on the lines our event could be more like the Raccoon Lodge in the Honeymooners….

    Good day ladies & gentlemen.

  8. Rob Syp Says:

    Well it’s time to make it happen…. Joe Levy, a great Chicagoan and great entrepreneur’s line is “Begin and the Rest is Easy”

    It just takes some planning, logistics and follow through to at least get it to 1st or 2nd base. It seems there’s enough able body people who read and are engaged in this blog to assist with their talents to see this through (getting your idea to fruition) Whatever I can be of service on please let me know.

    Going back to Ernest Kirchner it is a financial story. With him destroying his remaining works of art and then himself believe the last quote I heard for a sale of his painting was 38 million.
    God bless Mr. Kirchner

  9. Pete Says:

    Yra:

    What’s your view on the USD? On the one hand, Trump clearly wants a lower dollar to help exporters and pay off the debt. On the other hand, how does he get it? Also, what about the investment consequences should we have a depreciating currency?

    Thanks,
    Pete

  10. Chicken Says:

    Whoops, there goes Toshiba again….

  11. Rob Syp Says:

    We can invite Dagen McDowell Fox Business she can be the MC. Smart sexy and witty her run on the Imus in the Morning show Fox Biz was second to none. Most guys would tune in just for what her next line might be and she drove the I-Man nuts.

  12. Rob Syp Says:

    https://images.search.yahoo.com/search/images?p=dagen+mcdowell&fr=mcafee&imgurl=http%3A%2F%2Fwww.oneangryman.com%2Fken%2Fwp-content%2Fuploads%2F2015%2F03%2FDagen-McDowell-2.jpg#id=2&iurl=http%3A%2F%2Fwww.oneangryman.com%2Fken%2Fwp-content%2Fuploads%2F2015%2F03%2FDagen-McDowell-2.jpg&action=click

  13. Yra Harris: Financial Repression Is Leveraging The Public Treasury To Maintain The “Animal Spirits” Of Crony Capitalism - Investing Matters Says:

    […] LINK HERE to the commentary […]

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