Skip to content

Here's what they're really talking about at Davos -- it's not what they want you to think

Free World Class Education
FREE Catholic Classes
The elites want a 'bail in' as world faces deep recession.

The agenda for Davos is about the future, and is intended to be optimistic, but discussion between the attendees is worrisome as they focus on serious, near-term financial threats. The world economy is on the brink and there are few tools left to fight recession.

Deacon Keith Fournier Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you. Help Now >

LOS ANGELES, CA (California Network) - The world's elites have gathered in Davos, Switzerland for the World Economic Forum. The agenda set by founder Klaus Schwab, is an optimistic one. It's about the Fourth Industrial Revolution, the coming of robots and automation, artificial intelligence, and how these advancements will change the world.

But before any of that becomes reality, there's a developing threat of global recession. Talk of this threat is dominant between the scheduled discussions.

Oil prices have collapsed and other indicators reveal that markets are deeply in debt. Banks are now holding trillions in debt that will likely never be repaid and this bad debt will have to be wiped off the books. As it becomes apparent that banks are holding useless debt, their shares and assets will fall, leading to a domino effect across the world economy.

In other words, a recession is looming, if not an outright collapse.

Central banks have cut interest rates to zero, or near to zero. When recession occurs, these banks cut interest rates to encourage borrowing and investment. But with interest rates so low, what's left to cut?

Deficit spending is the next weapon, but with entire governments already mired in debt, some of it bad, it's unlikely they will be able to deficit spend their way back into prosperity. This is how recessions turn into depressions.

The world's elites have reason to be worried. They're the ones holding the bad debt. A portion of their wealth may evaporate, leading them to call for a bailout. A bailout would cause the government to pay money to the banks to cover their losses. This, of course, redistributes the debt back to the taxpayers. It allows the banks to remain solvent, the rich stay rich, and the poor simply owe even more. The debt then makes another cycle through the economy with each cycle becoming worse.

How the elites will land their bailouts is a topic, with one mentioning that it should be called a "bail in" instead of a "bailout," just to fool the masses.

A recession looms, cuts will be made in many industries. Workers will be laid off. These workers may be replaced with robots or sophisticated AI algorithms. Why hire back workers when it's cheaper over time to just buy software?

The future is being forecast and planned in Davos this week. Unfortunately, the average person is not invited to the discussion. In front of the media it's all about how much everyone will like the world of tomorrow, but between sessions, the real deals are made, and sadly, you're not a factor in any of them.

Find Daily Reading videos here-SUBSCRIBE


The California Network is the Next Wave in delivery of information and entertainment on pop culture, social trends, lifestyle, entertainment, news, politics and economics. We are hyper-focused on one audience, YOU, the connected generation. JOIN US AS WE REDEFINE AND REVOLUTIONIZE THE EVER-CHANGING MEDIA LANDSCAPE.

Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Free Catholic PDF's

How to Pray the Rosary, Hail Mary, Our Father, Saints, Prayers, Coloring Books, Novenas, Espanol and more. All FREE to download and faithful to the Magisterium.

Download Now >

Catholic Online Logo

Copyright 2020 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2020 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.

Catholic Online is a Project of Your Catholic Voice Foundation, a Not-for-Profit Corporation. Your Catholic Voice Foundation has been granted a recognition of tax exemption under Section 501(c)(3) of the Internal Revenue Code. Federal Tax Identification Number: 81-0596847. Your gift is tax-deductible as allowed by law.