Davos Post Mortem

Tyler Durden's picture


And like that, this year's Davos World Economic Forum has come and gone, having achieved nothing except allowing a bunch of representatives of the status quo to feel even more self-righteous and important in the world's biggest annual circle jerk, in which fawning journalists ask the questions their cue cards demand, knowing too well their jobs are on the line if they ask anything even remotely provocative (and with the price of admission in the tens of thousands of dollars, one wonders just how many Excel classes these "journalists" could have taken as an alternative, in order to actually do some original math-based research, yes, shocking concept, to present to their readers instead of merely regurgitating others' talking points). Bloomberg TV has compiled the best video summary of the highly irrelevant soundbites by economists, CEOs and other people of transitory power, who provide absolutely no original insight into anything, and in which ironically it is Mexico's Felipe Calderon who summarizes it best: "we have a timebomb the bomb is in Europe and we are working together to deactivate it before it explodes over all of us." Lastly, we provide a quick glimpse into current and previous guests of Davos to show just how utterly worthless is the "braintrust" of those present.

And some further persepctives, from Davos Sherman Okst of Psychopathic Economics:

Economic Nirvana

It became quickly apparent that People are desperate to learn about Davos and what the elite are doing to “fix” the economy.

Some “Search Terms” [my blog's trends] for this week: Davos attendees, Davos World Economic Forum attendees, Davos WEF list, Davos wants 150 trillion dollars, did Obama go to Davos, Joe Biden at Davos, Davos and the Greece default, WEF attendees, Bill Gross on Davos, Davos is a joke, Citi at Davos, Davos sluts, Economic Forum 2012 2600 participants bio, Davos world depression, Davos elite guest list, Fix economy at Davos.

You get the idea.  The terms in bold gave me an idea for an article.

Some Bios of Those Who Attend Davos

So here is a short piece, the bios of some (past and present) elite over there at the Davos World Economic Forum.  The guise is that they are there to make the economy and the world a better place.  If that was the case, in one short sentence I could sum up a better way to do so: “Davos attendees, stay the [ehem] home—free markets are meant to be free for a reason—and if you want to fix the economy go to my blog and click on the 30 or so links there under Best Economic Blogs ”.

But when you read the bios you’ll probably draw the conclusion that the elite go to Davos to serve their interest—not ours.

Shocker, I know.

Some Select Bios of Those at Davos This Year or Years Prior

Bestand:Joe Biden - World Economic Forum Annual Meeting Davos 2005 Portrait.jpgJoe-”We asked Jon Corzine for Economic Advice”-Biden:  Right after Obama & Biden got in the White house these economic imbeciles faced with a financial crisis called—drum roll please—MF Global’s Jon-”I Bet My Clients’ Money on Greece”-Corzine for advice on what do do.  You can watch the short YouTube video here.  People should posses a basic IQ just to be allowed to visit the White House.  The very track record of this for an administration should disbar them from running, or even living in DC.


Larry-”I Lost $1,800,000,000.00 for Harvard Betting on Derivatives”-Summers:  He’s got some other serious claims to fame, Obama is considering him for the top post at the World Bank, he helped Alan Greenspan muzzle Brooksley Born who wanted to regulate derivatives in the 1990s.  You can watch that here.  I wouldn’t let Summers advise me on investing for my late dog.  He must have been impressed with how Summers falls asleep at White House meetings.  This year Larry is attacking “Capitalism” and says it needs to be reformed.  We don’t have capitalism, if we did the banks that made idiot decisions would have failed.  We have Corporatcracy as I wrote about here and on this one site it got 145,000 reads which indicates that people–other than these morons at Davos–get this.


Gordon-”I sold 60% of England’s Gold Reserves When Gold was at the Rock Bottom Price of $275 an Ounce”-Brown.  Like Summers he sleeps at important meetings.   Another economic genius.



Jon-”I Bet 36,000 Clients’ $1,200,000,000.00 on Greece MF”- Corzine.  Don’t feel too bad, he was going to be tapped for Timmy Geithner’s job of United States Treasury Secretary.  At Davos in 2008 he predicted a “mild recession.”

Then we have the companies.

BP Who drilled for 12 hours of global consumption under a mile of water and 3 additional miles of rock.



 Citi 1.2 trillion in assets and 37.6 trillion in off balance sheet derivatives.




Deutche Bank Under fire from internal whistleblower for accusing bank of fudging numbers.




Ernst & Young accused of helping hide financial risks at Lehman Brothers, you can read about it here.




GE (Who Obama has as its head as his Council on Jobs) took money in bailouts, owns MSNBS and CNBS and GE Capital slashed about 11,000 jobs or 10% of its workforce, you can read about it here.



JP Morgan Chase 1.4 trillion in assets and 89.9 trillion in off balance sheet derivatives.  Its former executive is Obama’s Chief of Staff.




I could go on for hours, but I think that should help a lot of the folks stumbling across my blog looking for a complete list, which I published here.

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Sun, 01/29/2012 - 17:06 | 2107940 Saxxon
Saxxon's picture

This submission is another Two Minutes Hate, nothing more.

Sun, 01/29/2012 - 17:20 | 2107971 i-dog
i-dog's picture

Ka-BOOOM ... bitchez!!!

Sun, 01/29/2012 - 19:51 | 2108217 Reese Bobby
Reese Bobby's picture

"This submission is another Two Minutes Hate, nothing more."  Huh?  WTF does that mean?  "My nipples explode with the light" makes more sense.


Sun, 01/29/2012 - 20:36 | 2108273 hedgeless_horseman
hedgeless_horseman's picture



 (and with the price of admission in the tens of thousands of dollars, one wonders just how many Excel classes these "journalists" could have taken as an alternative, in order to actually do some original math-based research, yes, shocking concept, to present to their readers instead of merely regurgitating others' talking points)

Tyler Durden you're my hero.

Mon, 01/30/2012 - 10:04 | 2109287 gilliganis
gilliganis's picture

You mean "explode with delight", right?

I will not buy this tobacconist's, it is scratched.



Mon, 01/30/2012 - 00:02 | 2108590 constitutionalist
constitutionalist's picture

It is never good when the people running the world have never worked a day in there life, I would have rather seen at the Davos, Italian Mafia, IRA, Russian Mob, Triads. I cant believe how unimportant politics have become in the lives of humans


Mon, 01/30/2012 - 00:11 | 2108603 xela2200
xela2200's picture

Well, who do you think runs Italy and Russia, so I beg to differ. Lastly, the IRA is probably in a bar at doubling. I think is game night or fight night. Maybe, both.

Sun, 01/29/2012 - 17:27 | 2107981 Ethics Gradient
Ethics Gradient's picture

Admittedly I'm on my second bottle of wine and was listening to Stefano Ottomano at http://www.youtube.com/watch?v=0_C08Y7FC4o whilst reading the above but felt nothing but warmth.

ZH doesn't have all the answers, sure, but read between the lines and you will get fuller and more accurate picture here than nearly anywhere else.


Sun, 01/29/2012 - 17:56 | 2108034 Caviar Emptor
Caviar Emptor's picture

We are the world....or what's left of it

Sun, 01/29/2012 - 19:13 | 2108161 macholatte
macholatte's picture


It's doubtful that many, if any, of the individuals attending or presenting at Davos paid a penny of their precious fiat for the privilage.  In fact, most got paid or were paid to be there + food and beverage and travel. So in that vaccuum of Swiss Space, did anyone have anything new or refreshing to say? Was there a new idea?  NO?  Then I want my money back.



Sun, 01/29/2012 - 20:15 | 2108246 Caviar Emptor
Caviar Emptor's picture

But the partys, the clothes, the pagentry! 

Sun, 01/29/2012 - 23:57 | 2108576 Milestones
Milestones's picture

This is the tapering off party from the Rose Parade--ya know the excitement and all. My Gawd what a bunch of buffons!      Milestones

Sun, 01/29/2012 - 18:03 | 2108045 ForTheWorld
ForTheWorld's picture

If it distracts the proles for two minutes, so the powers that be can perform more work in the shadows, well that's got to be good, right?

Sun, 01/29/2012 - 18:39 | 2108111 Money never sleeps
Sun, 01/29/2012 - 17:07 | 2107942 doggings
doggings's picture

lol @ Davos sluts. that was me I think.

Sun, 01/29/2012 - 18:11 | 2108061 DeadFred
DeadFred's picture

Searched under the Images option I would guess.

Sun, 01/29/2012 - 19:56 | 2108226 Non Passaran
Non Passaran's picture

You never know, those are tricky bastards. I'd check Excel spreadsheets as well. You never know what you may find amongst charts on sheet 17...

Mon, 01/30/2012 - 00:47 | 2108652 BorisTheBlade
BorisTheBlade's picture

I think I have a wrong google: Joe Biden pops up first under 'Davos sluts' image search, cannot be unseen o_0

Sun, 01/29/2012 - 17:12 | 2107952 wandstrasse
wandstrasse's picture

but but but... do all these savvy and influental businesspeople NOT fight for a better world??

Sun, 01/29/2012 - 18:58 | 2108135 Acet
Acet's picture

These guys have reached their peak of success and wealth in the system we've had for the last 20 or 30 years. They will do whatever it takes to preserve that system and will never, ever even put forward the kind of radical solution that's needed since that would mean accepting the destruction of the foundation of their positions.

When the Cretacious period is ending and dinossaurs are dying, the last guys you will get a solution from is a bunch of Tyranossauros-Rex in the top of a mountain.

Wed, 03/21/2012 - 05:12 | 2276060 l.hauri
l.hauri's picture

maybe in a prefect world we will see it. cleaning Calgary

Sun, 01/29/2012 - 17:13 | 2107954 Negro Primero
Sun, 01/29/2012 - 17:18 | 2107967 Global Hunter
Global Hunter's picture

I like the dark haired one!

Sun, 01/29/2012 - 17:32 | 2107992 Manthong
Manthong's picture

Who'd of thunk riot duty would have benefits?

Sun, 01/29/2012 - 17:59 | 2108038 Manthong
Manthong's picture

She looks way nicer without the cop.


Sun, 01/29/2012 - 18:29 | 2108079 Cheesy Bastard
Cheesy Bastard's picture

Riot duty in Davos does indeed have benefits.


(These pics pan a little lower.  It's all about the journalism)

Sun, 01/29/2012 - 19:17 | 2108169 Manthong
Manthong's picture


The blondes all have attitudes but the brunette looks like she's on a photo shoot for a top modeling agency.


Sun, 01/29/2012 - 17:34 | 2107997 Hulk
Hulk's picture

OK Ladies, its either mace or a titty twister, which will it be ???

(I should not have done this...)

Sun, 01/29/2012 - 17:34 | 2107996 kaiserhoff
kaiserhoff's picture

Cold weather does help keep the tips up;)

Sun, 01/29/2012 - 18:04 | 2108047 chinaguy
chinaguy's picture

Damn, thanks man!

Sun, 01/29/2012 - 17:14 | 2107956 Global Hunter
Global Hunter's picture

I don't know what species Lagarde and Draghi are but it isn't human those ugly fucks.

Sun, 01/29/2012 - 17:15 | 2107959 Seasmoke
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Sun, 01/29/2012 - 17:16 | 2107960 williambanzai7
williambanzai7's picture


Sun, 01/29/2012 - 17:19 | 2107970 Atomizer
Atomizer's picture

Honey.. watch out for that tree.

Sun, 01/29/2012 - 21:55 | 2108380 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Nice, but I think you are confusing Davos with The Bohemian Grove?!

Thu, 03/08/2012 - 08:31 | 2235388 l.hauri
l.hauri's picture

you are funny with this picture, but it reflects the exact situation. yacht charter pula | yacht charter zadar | yacht charter trogir

Sun, 01/29/2012 - 17:18 | 2107962 vintageyz
vintageyz's picture

"the world's biggest annual circle jerk"...Tyler, once again you capture the mood

Sun, 01/29/2012 - 17:19 | 2107964 Eireann go Brach
Eireann go Brach's picture

Roubini, I know you read ZH! So therefore if you read this, I want you to know that you are a worthless fucking human being! There should be a rule enacted in America whereby if you or Krugman are seen on the street, every US citizen is allowed to punch you or take a bat to your head with no legal consequence!

Sun, 01/29/2012 - 17:48 | 2108017 wandstrasse
wandstrasse's picture

go easy on Mr. Roubini, he got it bad enough:


Sun, 01/29/2012 - 18:29 | 2108095 Normalcy Bias
Normalcy Bias's picture

Bullish for Plaster Pussies!

Sun, 01/29/2012 - 18:28 | 2108093 Dugald
Dugald's picture

You are far too kind......think Vlad the Impaler....!

Sun, 01/29/2012 - 22:20 | 2108407 Seer
Seer's picture

But, but... Reggie Middleton says that Roubini is a "smart guy."

Both continue to regurgitate the same old lames shit that there can be "sustainable growth" on a finite planet: well, Reggie will dodge on this one because, well, he prefers to just call everyone else stupid (except Roubini it appears); never mind that calling the kettle black if you're a "pot" ain't too bright.  Right from the fucking get-go: FAIL!   Nope, they're just dope peddlers.

Mon, 01/30/2012 - 04:07 | 2108854 AnAnonymous
AnAnonymous's picture

Both are US citizens.

Sun, 01/29/2012 - 17:19 | 2107965 Eireann go Brach
Eireann go Brach's picture

And Corzine!

Sun, 01/29/2012 - 17:20 | 2107966 Eireann go Brach
Eireann go Brach's picture


Sun, 01/29/2012 - 17:39 | 2108006 Global Hunter
Global Hunter's picture

Before you edited out your triple post I was chuckling to myself thinking of Roubini reading that three times!

As for you Roubini still a douche.

Sun, 01/29/2012 - 17:20 | 2107972 ozziindaus
ozziindaus's picture










Sun, 01/29/2012 - 17:20 | 2107973 Zola
Zola's picture

Man Soros really does look like Palpatine... Amazing.

Sun, 01/29/2012 - 17:29 | 2107987 LowProfile
LowProfile's picture

Beat me to it +1

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