A debt crisis sweeping across both continents has the potential of bringing about a new global depression. Governments have no room to use fiscal policy to mitigate the crisis; their monetary policy capabilities have already been depleted in responding to the recent pandemic. Yet there was no mention of this threat in Davos.
During remarks at this week’s WEF Summit in Davos, the chief architect of the so-called ‘Great Reset’ said: “The future is not something that just happens. The future is built by us, by a powerful community, as you here in this room.”
The World Economic Forum (WEF), perhaps best known for its annual gathering in Davos, Switzerland which brings together the who’s who of the global liberal elite, has canceled all public events that were set to coincide with January’s meeting, citing security concerns and death threats.