Live From Davos: Ray Dalio, Christine Lagarde And Larry Summers Discuss How To Fix The "Middle Class Crisis"

Tyler Durden's picture

How do you know with certainty that Davos has not only jumped the shark, but has become a parody of itself? One answer: when you have a handful of semi, and not so semi, billionaires - perplexed by the populist backlash of the past year - sit down and discuss among each other how a "Squeezed and Angry" middle-class should be fixed.

As Davos puts it, "once the lynchpin of developed economies, it’s now threatened by job losses and stagnant wages, paving the way for the rise of populism. In emerging markets, middle class growth rates are stalling. Have middle class problems been forgotten?" It asks rhetorically "What can be done?"

Apparently the answer is to have three people completely disconnected from the real world, sit down and provide "answers.":

In this session, starting at 0800 GMT, IMF Managing Director Christine Lagarde, Italian Finance Minister Pier Carlo Padoan and Founder, Chairman and Co-CIO of Bridgewater Associates, Ray Dalio, discuss what's needed to restore growth in the middle class and confidence in the future.

And then they wonder why the annual Davos echo chamber boondoggle has become not only a global farce, but a symbol of everything that is wrong with globalization today...

Watch it live below

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GreatUncle's picture

@batman

"It then did succeed in a democracy but only by tricking the people into thinking they were voting for something else"

The EU, people voting for MEP's when the commission is the one making all the decisions.

Fake parliament, applied to the US fake congress, etc., UK parliament fake already sold sovereignty to the EU one.

besnook's picture

what ignorant dumbfucks. ray came close. the last time this disparity in wealth was this wide the gap closed dramatically during the depression. so a severe depression is next probably followed by war because there has to be a huge capacity destruction event to reset. that will be the solution to income equality whether anybody likes it or not.

it is hard to believe summers is an economist.

the plan for avoidance of catastrophe is pretty simple but because of the size of the problem they created, the implementation is very difficult. give labor its fair share of productivity gains. that alone will create lots of jobs.

one thing is sure, and you could see the fear in summers voice, if they don't give the middle access to money with a possibility of success they may pay with their skins like in the thirties and 40s.

WTFUD's picture

Toss us a crumb guv! Do NOT feed the animals in the zoo. Never give a sucker an even break. If you give 'em they'll only waste it! The natives are restless, so let's dig out one of them patriotic speeches, they'll soon forget their hunger. Look i know the bullets and bombs are raining down and we're surrounded but hey, up and over the trenches and we'll be just 3 miles yonder in that castle, having lunch, watching you get mown down. Your country needs you . . ask not what your country can do for you . . . .

GreatUncle's picture

Severe depression was supposed to be in 2008 ... elites seen it coming and remembered the previous time so it is deferred at least for now. 2008 in a nutshell.

Since then they have been positioning themselves to avoid the damage to them, but with the move to outlawing cash and NIRP reckon they about figured it out. Suggests to me if the system goes down there is nowhere for them to preserve the value.

WW3? Final reset failing that make it as bad for the population as you can whilst having a well stocked bunker for a few years to avoid the worst. After that provided they are in a position of strength they escape unharmed but screw the ordianry people.

Last one must be the end game because the middle one will get enormous backlash.

 

Latitude25's picture

How to fix the middle class?  Eliminate it.  Mission accomplished

Xena fobe's picture

That's what they mean by "fix".

WTFUD's picture

'we're on the, top of the World , looking down on creation
and the only explanation we can find, is the cash, that we've found
ever since you plebs have been around
your cash has put us, on top of the world . . Karen C

Made it ma . .

proV's picture

Beware of people trying to fix the world.

DuneCreature's picture

Worldwide Censorship Closing In = https://www.youtube.com/watch?v=EszS5KbaFO8&t=845s

Sponsored By - 'The Tribe Of Unmentionables' And The H. W. and G. W. Bush Foundation

https://www.youtube.com/watch?v=svJysyC7RDc

Live Hard, When They Cut Your Tongue Out You Can't Call Out For Help, Die Free

~ DC v4.0

Blanco Diablo's picture

Davos Crew final solution,  Zyklon B (Vaccines and GMOs)  To Fix The "Middle Class Crisis"

rahrog's picture

The best thing that Davos man can do for the world is to swallow its tongue and choke to death while being live streamed.

 

 

_ConanTheLibertarian_'s picture

Just remove the middle class. Problem solved.

LA_Goldbug's picture

"Ray Dalio, Christine Lagarde And Larry Summers Discuss How To Fix The "Middle Class Crisis""

Comedy Hour :-)

https://s-media-cache-ak0.pinimg.com/originals/ed/09/2b/ed092be67dded26a...

tuetenueggel's picture

Criminals amongst themselves.

Hang them all.

Vladimir, can you just nuke Davos as top criminals of the world are gathering ?

This will free mankind. After that pls nuke Bern/switzerland too, because they donate

100.000.000 $ to nazi regime in Kiew.

GreatUncle's picture

Place a bet with you they are not their.

They train for keeping apart so no single strike can sever all the heads.

Knew this lad, his dad multi-millions 30 years ago if they travelled they are split up to preserve the hegemony.

So reckon it would be all linked up face-to-face networking with proper encrpytion. You pass the key by hand months ago of a few petrabytes  key and you are not cracking that.

SharkBit's picture

There is scope for an Anti-Davos where none of these parasites are invited.  Venue anywhere but Davos.  Thank you ZIRP and the war on Cash.

Batman11's picture

All for ourselves, and nothing for other people seems, in every age of the world, to have been the vile maxim of the masters of mankind.” Adam Smith, The Wealth of Nations

Mankind first started to produce a surplus with early agriculture.

It wasn’t long before the elites learnt how to read the skies, the sun and the stars, to predict the coming seasons to the amazed masses and collect tribute.

They soon made the most of the opportunity and removed themselves from any hard work to concentrate on “spiritual matters”, i.e. any hocus-pocus they could come up with to elevate them from the masses, e.g. rituals, fertility rights, offering to the gods …. etc and to turn the initially small tributes, into extracting all the surplus created by the hard work of the rest.

The elites became the representatives of the gods and they were responsible for the bounty of the earth and the harvests. As long as all the surplus was handed over, all would be well.  

Later they came up with money.

We pay you to do the work and you give it back to us when you buy things, you live a bare subsistence existence and we take the rest.

“Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal – that there is no human relation between master and slave.” Leo Tolstoy

The surplus produced since the earliest agricultural communities was thus extracted by the elite.

A bare subsistence existence ensured the workers didn’t die and could reproduce, why give them anymore? The vile maxim of the masters of mankind.

Basic capitalism was how it all started in the 18th and 19th Centuries, the poor lived in squalor and the rich lived in luxury, the same as it had always been.

Only organised labour movements got those at the bottom a larger slice of the pie, basic capitalism gives nothing to the people who do the work apart from a bare subsistence existence.

The wealthy decided they needed to do away with organised labour movements and the welfare state; it was interfering with the natural order where they extract all the surplus.

2017 - World's eight richest people have same wealth as poorest 50%

Nearly there.

They need a bit more fine tuning at Davos.

Some of the world's workers are not living a bare subsistence existence.

A bare subsistence existence ensures the workers don’t die and can reproduce, why give them anymore? The vile maxim of the masters of mankind, currently known as neo-liberalism.

Basic capitalism, stripped of a welfare state and organised labour movements, with a global workforce ensuring an excess supply of labour driving wages down to the minimum.

Perfect, it's going to be just like the good old days.

GreatUncle's picture

I figure this ... oh be good for the rage out and I have no problem seeing banksters hung, garotted, guillotined etc. Chopping the head off them "all pointless" another will think they can stand up and do the same hence repeating the process ad-infinitum. The US constitution to safeguard the population does not work neither if they can dismantle it to suit themselves.So killing them don't work and no form of legislation will work to being equality in this world.

One thing does though ... all elites must give up their children as hostage to populations whereby if they do not behave they get eradicated. Then it works... brutal? gruesome? unfair?

That is precisely how this kind treat people the world over and there is no promise they can make they will not break.

Solution ...

So lets find out how much their descendants are worth too them ... I mean you can leave the money to family if there is none. Too looney for people? A concept and it used to be done in medieval europe to ensure agreements between elites were honoured.

Now as far as I can see it, worth a try seeing as all other methods have been seen and known to fail making it just a rinse-repeat process.

cwsuisse's picture

It is painful to watch: Lagarde, Summers and Dalio are absolutely clueless and don't know what they are talking about. 

wholy1's picture

IGNORE! 

Pathetic sycophants for the super-slimers/elites?

The problem[ers] - NOT the solution[ers].

 

burocracy's picture

Blind people discussing color schemes.

overmedicatedundersexed's picture

up next : How to Lie on your taxes and get to be sec of treasury , by Tim Geithner..why not ??legarde just convicted presented ?? free corzine free lagarde..

they have no moral authority yet they have the power..the elite stink like soros's ju rectum.

mog's picture

Whats a convicted financial felon doing on the panel.

And she seems right at home.

Figures!

south40_dreams's picture

A round of Jim Jones koolaid at Davos would really help the middle class

Xena fobe's picture

Like they haven't done enough to "fix" the middle class.  Pompous asses.

UnschooledAustrianEconomist's picture

They are probably surprised there is still middle class sheep around that haven't been shorn.

And now they are wondering and discussing how to get those mavericks, too.

Fucking bastards.

gmak's picture

Go ahead, you band of immoral, unethical, out-of-touch, condescending sociopaths. Tell me how you know what's good for me, better than I do. While you're at it, tell me what I should have for dinner tonight. I'm so lost.

 

If you really want to "fix" the middle class, take 75% of the wealth that you or your ancestors stole by gaming a rigged sytem and pay down as much sovereign debt as possible. Then go on spiritual retreat until you realize that you really don't have any better ideas than anyone else (hence your so-called "solutions" are just stabs in the dark), and that you and your ilk are the cause of ALL of the problems on this globe.

gmak's picture

On second thought... Let's make it 80% and keep moving down the list of the wealthiest until ALL government debt is paid off everywhere and then NEVER allow government borrowing again.

TeaClipper's picture

Did you just call me a populist, you unpopulist cunt? Fucking Labelists bastards.

Wahooo's picture

One. Single. Simple. Answer.

STOP TAXING ME.

Dilluminati's picture

guillotine fix it

Skiprrrdog's picture
Christine Lagarde

Shouldnt this scarecrow looking old prune be in fucking leg irons... with a matching scarf?

Skiprrrdog's picture

In a perfect world 100% of the Davos cunts would choke to death on a $40.00 bag of nuts and guts...

gmak's picture

Globalization is bad because the current way of implementing it doesn't raise the wealth of poorer countries through 'growth of the whole pie'. It does it by taking from the haves (but only the middle class of the haves) and gives to the poorer countries through various channels.

 

In the end, the middle class is asked to support the poor in their country through forced taxation -> welfare and social programs; asked to support the poorer countries through trade agreements and unlevel playing fields that steal higher value-added jobs and transfer them; asked to support the rich through unequal taxation where the rich pay less as a percentage of their income.  

 

If you're being FORCED to support everyone else at your own expense, sooner or later you rise up and put an end to this immoral theft.n  It's NOT populism. It's TAKING BACK OUR FUTURE.

Urahara's picture

How To Fix The "Middle Class Crisis":

1. Get rope.
2. Hang the Banksters. (Not the local peons, the real high up ones)
3. Repeat.

GreatUncle's picture

The poll is for the following concept ...

<< Like

<< Dislike.

They intended to thieve and deceive, hell the whole concept of fake news was created and used by them long before 2016.

Then they sit down in a circle, pretending to address the problems they have been making happen ... the shakers and the movers are in the house!

So for all Davos people sitting eating $40 hotdogs, no pizza just yet, wallowing in chairs in room of a lovely temperature, neither to hot or too cold.

Nice threads they wearing too I bet they cost a packets and just think of all the makeup that Lagarde "has" to wear.

SO NOW YOU CLICKED THE LINK TO WATCH ... fair enough for all those Davos people acting they need an audience to pretend to.

The poll question though is what % of all the viewers like or dislike the people and MDB you are welcome to join in too?

Yellow Zookaninnie's picture

An aleutian islands reeducation camp for these vermin. Fishheads and rice forever. Gitmo is too sunny for these deep thinkers.

Yellow Zookaninnie's picture

I feel better already that STUPORMAN Larry is looking out for me.

steelrules's picture

Yeah they'll fix the middle class alright, drive what's left into poverty so we're all on our knees.