The Globalist Failure

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As the World Economic Forum gathers in Davos, Switzerland this week, the self-satisfied glitterati of globalism congratulate themselves on the economic, political, and media systems they have created. In the estimation of Klaus Schwab, George Soros, and Bill Gates, the brave new โ€œearth is flatโ€ model serves their prerogatives well.

But regular citizens reject this system, the world over. The skepticism of the masses was just quantified by a global survey from communications giant Edelman. That poll found that global economic optimism crashed by 25% since before the Covid virus, and slumps to an all-time low for the studyโ€™s history back to the year 2000.

Worldwide only 40% of people believe their familyโ€™s economic life will be better in five years. In the US, the optimistic cohort is only 36%. Other advanced nations fared even worse, with Germany showing 15% optimism and Japan only 9%. Half of the 28 countries surveyed showed double digit declines in optimism in just the last year.

The cynicism conveyed by these citizens is, sadly, well-founded in their own financial reality and macro-economic trends. CNBC just published a damning Oxfam study about the concentration of economic power in recent years. Since the beginning of the pandemic, the wealthiest 1% amassed almost 2/3s of all wealth created. To put this financial chasm in dollar terms, for every $1 in wealth earned since 2020 by those the bottom 90%, each billionaire acquired $1.7 million in new assets.

In America, this widening economic disparity emerges as a predictable measure of trust in institutions. Specifically, high earning Americans reported a relatively high 63% level of trust in institutions of government, business, and media. Naturally, the credentialed ruling class beneficiaries approve of their captured organizations. But — among lower income Americans, the number stands at only 40%. The Edelman survey also reveals a partisan divide with only 23% of Republican voters believing they will be better off in the next five years.

By Steve Cortes

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