“Fractures, Fears and Failures:” World’s Ruling Elites Stare into the Abyss
NOVANEWS
By Bill Van Auken
World Socialist Web Site
Next week will see some 2,500 bankers, hedge fund managers, corporate CEOS, government officials and celebrities descend once again on the Swiss Alpine resort of Davos for the World Economic Forum (WEF).
Paying $55,000 a head as the price of admission, one could well assume that the representatives of the financial and corporate oligarchy drawn to the annual meeting, and the lavish parties that accompany it, have a lot to celebrate.
The Bloomberg Billionaires Index published last month established that the fortunes of the world’s wealthiest 500 billionaires—many of whom will be in attendance—rose 23 percent over the past year, making them $1 trillion richer than at the end of 2016. And the obscene amounts of wealth keep roll...