Risk Rap

Rapping About a World at Risk

Davos Dithers While Cairo Burns

Per-Gynt-in-the-Hall-of-the-Mountain-King-Dovregubbens-Hall-1913_WEBB

In the pristine air of the Swiss Alps,  the worlds power elites gather at an annual World Economic Forum in Davos Switzerland.   In this rarefied Hall of the Mountain King’s, Prime Ministers, CEOs and the esteemed emissaries of the global elite get some valuable face-time with each other to assess the world situation and figure out ways to arrange it more to their likeness.   Russian Prime Minister Medvedev  was scheduled to give the welcoming address but had to cancel because a Chechen suicide bomber blew himself up in Moscow’s busiest airport taking a couple dozen travelers with him.

Busy looking inward to protect personal interests,  the fiduciaries of global solvency stew about regulatory overreach and the added burden it creates as the ruling elites balance the demands of worldly subsistence with the perplexities of generating sufficient cash flows to cover dividend payments to shareholders.  More often than not the heft of shareholder concerns outweighs the growing immiseration of the world’s troubled masses.  The deeply held sacred dogma that enlarged prosperity for the wealthy benefits the disenfranchised is being increasingly challenged as the wealth gap rises against a backdrop of growing economic duress and political instability.

The growing movement to topple Egyptian President Hosni Mubarak illustrates the failure of a global trickle down political economy.  Mubarak has held office since Anwar Sadat’s unceremonious removal from office  is receiving urgent signals from the Egyptians that he has clearly overstayed his welcome.  For three decades, Mr. Mubarak and his military caliphate have been the recipients of generous western aid packages designed to maintain a tenuous peace with Israel.  Stitched together at Camp David in the closing days of the Carter Administration; the sibling rivalry between Abraham’s jealous children remains incendiary and its stability will be tenuous at best considering the growing role of  The Muslim Brotherhood in challenging Mubarak’s continued rule.

The United States sends Egypt $1.5 billion in military aid each year.  Its seem a small price to pay to guarantee the peace with Zion and to  underwrite a strategic ally in the volatile Arab world.  It’s also a perfect political foil to counterbalance Israel’s favored nation status.   But US aid and IMF loans have financed Mubarak’s autocracy creating deep political fissures within Egypt.  These aid programs have widened the wealth gap by limiting opportunity to a select few; abetted political disenfranchisement that encouraged social unrest,  fueling Islamic radicalism and the urgent need for democratic reforms.

The game plan followed in Egypt for the past three decades is not working.  The nature of western aid to Egypt and how it was used to benefit the military ruling elites illustrate the conundrum of the Davos Hajiis.   Aligning economic development and political empowerment of the world’s disenfranchised with the needs of the global capitalist elites has failed to deliver on its promise.  The pursuit of Mule and  Sparrow economics have engorged the elites and left the many sparrows emaciated.

When the Davos delegates leave their ski chateaus for an afternoon on the slopes, as they exit the lifts at the top of the world, it may yet still be possible to glimpse the growing crowds amassing in Tahrir Square.  It may still be possible to connect the dots of promoting the inclusive economics of reciprocity and social democracy.  The revolutionaries gathering in Liberation Square  are joining with the dispossessed to give full voice for an agenda of change.

The elites have stored up too much wealth for themselves.  The masses have remained wanting, impoverished of goods and denied liberty, fed a steady diet of repression they stoke fires in Tahrir Square signaling the time for change has arrived.

Music selection: Edvard Grieg: In the Hall of the Mountain Kings

Risk: Middle East, political stability, economic prosperity, global economy, democracy, Egypt, Hosni Mubarak, Davos, IMF, Israel, Tahrir Square, revolution, military rule, Jimmy Carter, Mule and Sparrow Economics, Camp David Accords, Medvedev, Anwar Sadat, World Economic Forum

 

 

 

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January 30, 2011 Posted by | banking, corporate social responsibility, credit crisis, democracy, Egypt, history, Israel, Middle East, military, Muslim, politics, revolution, social unrest, Uncategorized | , , , , , , , , , , , , , , , , , , , | Leave a comment

In The Hall of the Mountain Kings

The tenor of this years Davos Conference is markedly different from years past. As recently as last years gathering of the worlds power elites, the agenda of the annual World Economic Forum was keen to address the smoothing over the rough edges of globalization in a post scarcity world. Those rich in capital, ideas, power and connections assembled to devise solutions to the worlds dilemmas with the practical medicine of enlightened capitalism. The weltanschauung from the halls of these mountain Kings and Queens has drastically changed with the turn of the year.

Gone are many of the deep pocketed investment bankers who in past years underwrote elaborate banquets and soirees to curry influence and to woo favor with the potentates of power. Gone is the insatiable appetite of the American consumer market that drove much of the conferees suppositions of the sustainability of a healthy global economy. The American consumer now lies prostrate like a Jolly Green Giant coated with an overdose of pesticides by a mad Iowan crop duster. Gone is the confidence of those who believed American pronouncements about the sustainability, soundness and correctness of its economic policies. Gone is a concerted spirit of cooperation among the nations and a belief to work together in a cooperative spirit to solve the problems that acutely ail the global economy. Unfortunately the ghosts of economic deprivation, acute political conflict and social dissonance still freely roam and continue to haunt the exalted halls of the mountain kings.

You Tube Video: Apocalyptica, Edvard Grieg’s, In the Hall of the Mountain Kings

Risk: economic, political, social

January 29, 2009 Posted by | classical, economics, politics, sustainability | , , , , | Leave a comment