1%

1%’ers at Davos plan their getaway

VIEW FROM THE TOP

After all, a heist is only as good as the getaway.

At a packed session in Davos, former hedge fund director Robert Johnson revealed that worried hedge fund managers were already planning their escapes. “I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway,” he said.

Yet, they continue to tell us there’s no conspiracy.

Johnson, who heads the Institute of New Economic Thinking and was previously managing director at Soros, said societies can tolerate income inequality if the income floor is high enough. But with an existing system encouraging chief executives to take decisions solely on their profitability, even in the richest countries inequality is increasing.

And whose idea was that, I wonder.

There is a wicked feedback loop. Politicians who get more money tend to use it to get [even] more money.” . . . The panellists were scathing about politicians, [describing] them as people who held up wet fingers “to see which way the money is blowing in from.”

Right. Citizens United is irrelevant. The 1% is lily pure. Blame it on government.

You have to hand it to the 1%. Their ability to delude themselves and each other is unparalleled.

Categories: 1%, greed

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