Get sick, get well
Hang around a ink well
Ring bell, hard to tell
If anything is goin' to sell
-- Bob Dylan

Friday, February 3, 2012

Red flag flying at Davos?

Funny -- Occupiers at Camp Igloo have Davos billionaires quoting Marx. Andy Robinson, in The Nation, reports:

CEOs and private-equity fund managers—even some of the seventy Forbes billionaires attending—interrupted their search for distressed assets in the eurozone this year to attend lectures by grim-faced New York University economist and Davos regular Nouriel Roubini or Nobel Prize winner Joseph Stiglitz. More than half the 1,200 investors, analysts and traders consulted in a Bloomberg poll published on the eve of the summit agreed that inequality damages economic growth.
“Marx was right; capitalism creates obstacles to its own advancement,” said Roubini. The audience nodded in agreement and then headed off for sessions on new investment opportunities in “frontier markets” like Mongolia and Azerbaijan.

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