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Drowning in the Money River: Why the 99% of Us Are Falling Further Behind

January 15, 2018
Adam Taggart

Peak Prosperity

It's a big club and you ain't in it.

~ George Carlin

If you suspect society is unfair, that there's a different set of rules the rich live by, you're right.

I've had ample chance to witness first-hand evidence of this in my time working on Wall Street and in Silicon Valley. Simply put: our highly financialized economy is gamed to enrich those who run it, at the expense of everybody else.

The Money River

A recent experience really drove this home for me.

Having received my MBA from Stanford in the late 90s, I remain on several alumni discussion groups. Recently, a former classmate of mine, who now runs her own asset management firm, circulated her thoughts on how today's graduating students could best access an on-ramp to the 'money river'.

What's the 'money river'? Good question.

The money river is the huge tsunami of investment capital sloshing around the globe, birthed by the historically-unprecedented money printing conducted by the world's central banks over the past decade. Since 2008, they've more than tripled their collective balance sheet:

(Source)

The $13+ trillion in new thin-air money issued to achieve this is truly staggering. It's so large that the human brain really can't wrap around it. (For those who haven't seen it, watch our brief video How Much Is A Trillion? to better understand this.)

But suffice it to say, all that money has to go somewhere. And it first goes into the pockets of those with closest access to it, and of those who direct where it flows.

In the context of MBA graduates working in finance, accessing the 'money river' often follows this recipe:

  • Step 1: Get hired by a buy-side fund (asset management firm, hedge fund, etc)

  • Step 2: Make friends at other funds by investing part of your portfolio in their offerings

  • Step 3: Leave to create your own fund, which all your new buddies will invest part of their firms' portfolios in

  • Step 4: Collect a fat annual salary of 2% of assets under management (regardless of how your fund performs), plus 20% of any gains

Let's put a little math behind this, with real-world numbers based on another classmate of mine who followed this recipe. After graduating, he went to work for a prestigious private equity firm, spending nearly a decade there as a fund manager. He then left to start his own fund.

Since he had invested in scores of ventures and funds while working for the private equity firm, he had amassed plenty of industry insiders who knew they had to reciprocate when it came time for him to hang out his own shingle, because "that's how the game is played". You help me when I need it, and I'll do the same for you.

Only a few weeks after announcing the formation of his new fund, he had raised $100 million for it. At his 2% management fee, that gave him an annual salary of $2 million no matter how the fund performed. And with the standard carried interest percentage, he had substantial additional upside of 20% of any profits the fund may take in the future.

Since forming this fund nearly ten years ago, the financial markets have been on a historic bull run, with hardly any corrections along the way. This is primarily due to the trillions in new money provided by the world's central banks mentioned above. So, it's little surprise that my former classmate's fund now stands at over $1.1 billion in assets under management.

That's now a $20 million annual management fee. Plus 20% on (conservatively estimating) hundreds of millions of gains made along the way.

Not bad work if you can get it.

No Fund For You!

But that's a big part of my point here. The 99% don't have a key past the velvet rope to access the money river.

Look, I don't begrudge this guy his success. Well, maybe I do; but it's not personal -- I know him well enough to say that for certain he's extremely smart, bold and hardworking. But he's benefiting from being in the Big Club that George Carlin railed about. The rest of us ain't in that club, and won't ever be. But our futures are being determined -- or more accurately put, undermined -- by it.

All that liquidity being provided by the central banks? To keep that money flowing it needs to be cheap to those who want to borrow it, so the banks have concurrently driven interest rates down to the lowest levels in recorded history (going back over 5,000 years). Some extra-aggressive central banks have even pursed negative interest rates.

What this has resulted in is a tremendous transfer of wealth to the already-rich at the expense of everybody else.

Those with the means and access to borrow have been able to get essentially free money to do so; while savers and those dependent on fixed income have been starved of any yield whatsoever.

The wave of global stimulus plus the low cost of borrowing has driven capital into nearly every asset market, rocketing prices higher. So those who have held those assets have become substantially richer, while those who have not have become increasingly priced out.

Along with asset prices, prices of nearly everything else have risen, too, dramatically increasing the cost of living:

(Source)

But, as costs have risen, wages have not. Especially when measured in real (i.e. inflation-adjusted) terms.

Real wages are now 7% lower than they were in 1973  -- and that's calculated using the official government-reported inflation rate, which we all know vastly understates the actual inflation rate. (Read our report on The Burrito Index to understand why the true price inflation households suffer is more like 5x greater than the official reported rate).

So the rich see their assets shoot the moon, and they get access to the 'money river', to boot. While the rest of us see stagnant real wages and a skyrocketing cost of living.

Is it any surprise that a tremendous and still-growing wealth gap between the 1% and everyone else has resulted?


(Source)

(Source)

The Future Looks Dim For Those Sleepwalking Into It

As we've written about at length in our recent report The Great Retirement Con, the average American worker is woefully unprepared to afford his/her retirement:

(Source)

And for those counting on a pension, odds aren't bad it may get reduced/eliminated during a future economic crisis.

Think that could never happen? Well, Governor Jerry Brown just announced this on Wednesday:

California's Brown Raises Prospect of Pension Cuts in Downturn (Bloomberg)

California Governor Jerry Brown said legal rulings may clear the way for making cuts to public pension benefits, which would go against long-standing assumptions and potentially provide financial relief to the state and its local governments.

Brown said he has a "hunch" the courts would "modify" the so-called California rule, which holds that benefits promised to public employees can’t be rolled back.

"There is more flexibility than there is currently assumed by those who discuss the California rule,” Brown said during a briefing on the budget in Sacramento. He said that in the next recession, the governor “will have the option of considering pension cutbacks for the first time.”

That would be a major shift in California, where municipal officials have long believed they couldn’t adjust the benefits even as they struggle to cover the cost. They have raised taxes and dipped into reserves to meet rising contributions. The California Public Employees’ Retirement System, the nation’s largest public pension, has about 68 percent of assets needed to cover its liabilities.

Across the country, states and local governments have about $1.7 trillion less than what they need to cover retirement benefits -- the result of investment losses, the failure by governments to make adequate contributions and perks granted in boom times.

"In the next downturn, when things look pretty dire, that would be one of the items on the chopping block," Brown said.

And this is in California, one of the most pro-worker/pro-entitlement states in the Union. If California is already sending out warnings like this, you can be sure that the other 49 states are thinking of making (at least) equally-harsh cuts when the next recession hits.

Potential cuts to promised pensions is just one of the many ways in which those running the system will act to preserve their share of the pie when crisis next arises. Those concerned about what other measures might be taken would do well to read our report Upon The Next Crisis, The Rules Will Suddenly Change.

And for those who prefer their cynicism blended with hard truths and humor, watch this short video of George Carlin's epic rant against the elite's Big Club. I quoted Carlin at the beginning of this article for a reason, he really nailed the central point I'm trying to make (Warning: the language used gets quite graphic):

Fighting Back

So, what can the rest of us in the 99% do about it?

Is this a lost cause? Should we just accept our fate and sink to the bottom of the money river, smothered by its high prices and low yields?

No.

The good news here is that there's a clear set of strategies for keeping yourself afloat while the system continues to pursue these pernicious and deeply unfair policies. They take focus, effort and discipline -- but anyone implementing them will have good chance to stay ahead of the rising cost curve, and have a real shot at financial prosperity.

In Part 2: Winning Against The Big Club, we examine a number of strategies for offsetting the soaring costs of everything from housing to healthcare -- with particular focus on the investments and actions you can take today, inside and outside of the markets, to preserve the purchasing power of your wealth from the nefarious "stealth tax" placed on your money by the kind of inflation discussed above.

Click here to read Part 2 of this report (free executive summary, enrollment required for full access)

Tapping the brakes on transgenderism in 2023

Hunter Martin / Contributor | Getty Images

2022 was the year of the emperor’s new clothes—where we were supposed to pretend that someone like Lia Thomas is a woman, legitimately beating actual women in swimming competitions. This carpet-bombing of common sense won’t be letting up anytime soon. Just before the New Year, the World Boxing Council announced that it’s going to create a separate category for transgender boxers. The WBC president said:

…we are doing this because of safety and inclusion. We have been the leaders in rules for women’s boxing—so the dangers of a man fighting a woman will never happen because of what we are going to put in place.

After all the insanity you’ve been told to accept about transgender athletes in recent years, his statement is remarkable. He’s admitting what common sense people have been saying all along—that trans athletes identifying as women still carry natural physical advantages (from the fact that they’re actually male), and that those natural advantages could endanger biological women.

Trans athletes identifying as women still carry natural physical advantages.

The WBC president went on to say:

In boxing, a man fighting a woman must never be accepted regardless of gender change. There should be no gray area around this, and we want to go into it with transparency and the correct decisions. Woman to man or man to woman transgender change will never be allowed to fight a different gender by birth.

Maybe the WBC is on to something here. Maybe the only way to solve the stupidity of letting biological males play female sports is to create a separate transgender category in every sport. That would make competition fair again. However, the trans agenda will never accept this because it doesn’t validate their transition—in fact, it admits that these are not authentically female athletes.

There is some rare, good news on this front. In late December, the Eleventh U.S. Circuit Court of Appeals voted to uphold a Florida school-board policy that requires transgender students to use the bathroom of their biological sex. Of course, the Left won’t accept this, so this case will probably go to the Supreme Court sooner than later. You’re supposed to always believe the science, except when it comes to your own body parts.

You’re supposed to always believe the science, except when it comes to your own body parts.

And by the way, if the Left truly cared about unbiased science as it pertains to transgenderism, they’d listen to their favorite European country, Sweden. Sweden’s national board of health recently updated its guidelines on treating children with gender dysphoria. Unlike the Biden administration and the U.S. medical establishment right now, Sweden’s new emphasis is caution:

…the scientific data is INSUFFICIENT to assess the effects of puberty-inhibiting and gender-sensitive hormone therapy of children and young people.

The Swedish guidelines also mention the prevalence of de-transition cases as another reason for tapping the brakes on sex-change surgeries for children.

Common sense apparently does still exist, even in places like Sweden. If only America would listen.

Here are the TOP 11 BOOKS from the Western Philosophical Tradition that you MUST know about

Hulton Archive / Handout

Glenn wants to dive deep into different philosophical topics this year. As CRT and woke curricula are demonizing the "western tradition," it is vitally important that we preserve the tradition that gave birth our nation and gives context to the culture we live in today. Here are the top 11 books to give you a crash course in the western philosophic tradition. If you don't have the time to read them, you can find an overview to each of the books below!

1. Plato's Republic

The first titan of Greek philosophy, Plato articulated the set of questions that would drive the future western philosophical tradition. The pre-eminent question among Greek philosophers was "what is the thing that explains everything." In philosophical lingo, this question is framed as "what is the logos or the good." Plato argued that reality could be explained in terms of the "forms." For example, when you see multiple examples of a "courageous" act, then, Plato would argue, there is such a thing as "courage." The form of "the good" is the form that gives meaning to all of reality. Humans use their rational minds to contemplate what is good and then align their desires to "the good" in order to pursue it.

2. Aristotle's Nicomachean Ethics

The second titan of Greek philosophy was none other than Aristotle, who was a student of Plato. Aristotle deviated from his teacher's claims about "forms" and instead argued that every single thing has a purpose, a telos. For example, the telos of a chair is to provide a place for someone to sit. In the same way that a chair's purpose is to provide a place for someone to sit, Aristotle argues that the telos of human beings is to pursue happiness.

In the first page of the Nicomachean Ethics, Aristotle claims that every action is done for the sake of pursuing happiness, although, all too often, our actions are misplaced. We often pursue things we believe will make us happy when, in reality, they are fleeting, momentary pleasures that result in despair, heartbreak, or pain. Rather than conforming the world around us to fit our momentary desires, Aristotle argues that we achieve happiness by understanding the nature of the world around us and how we fit into it by actively cultivating virtues in order to make our soul "fit to be happy." Work and action, therefore, are not mere moral "to-do lists," but rather bring us fulfillment.

3. Augustine's City of God

If Plato is the first titan of ancient philosophy, then Augustine is the first titan of medieval philosophy. Medieval philosophy begins with the re-discovery of ancient philosophical texts that had been lost throughout the Roman Empire. As Christianity had taken root and spread across the western world, medieval philosophy integrated these newly-discovered texts into Christian theology. Augustine is the pre-eminent medieval Neo-platonic philosopher, incorporating Plato's philosophy into Christian theology.

Augustine claimed that God himself is the ultimate "form" or "the good" from which all of reality derives its meaning and existence. A thing is "good" insofar as it coalesces with the way God intended it to be. When a thing stays away from God's intention, it is "not good." From this, we get the Augustinian definition of "evil" as a "privation" or "absence of goodness," which ultimately corresponds to God's nature and character.

4. Aquinas' Summa Theologica

Just as Augustine incorporated Plato's philosophy into Christian theology, the second medieval titan, Thomas Aquinas, incorporated Aristotelian philosophy into Christian theology. Building from Aristotle, Aquinas argues that Christ is our happiness, the longing of every human heart and the object of every human action. Though we may think we are pursuing happiness outside of Christ, our this pursuit is misplaced and will result in fleeting pleasure and pain. True happiness and fulfillment, Aquinas argues, is found in Christ himself and the pursuit of his nature.

**Note: Aquinas' Summa is one of the largest works ever written and contains arguments about many different subjects--there are concise versions that will save you a lot of time!

5. Francis Bacon's Novem Organum

If medieval philosophy is defined by the incorporation of ancient philosophy into orthodox Christian theology, then the Enlightenment is defined as the rejection of both. English philosopher Francis Bacon kicked off the Enlightenment with a total rejection of the Aristotelian view of reality. The title of his book, the Novum Organum, or "the new order," is a deliberate tease of Aristotle's Organon, or "the order of things." Bacon's "new order" purports that, contrary to Aristotle, there is no inherent "nature" or "purpose" in reality. Rather, reality is something that we can conquer by means of knowledge and force, dissecting nature to its fundamental parts and reconstructing it into what we want. Bacon is considered the father of the scientific method, creating a testable means through which we can understand, break down and re-construct nature.

6. Descartes' Discourse on Method

Descartes is best known for his famous assertion, cogito ergo sum, or "I think, therefore, I am." In Discourse on Method, Descartes embarks on a rigorous endeavor to doubt anything that can be doubted. He postulates that all of reality can be doubted; however, the one thing that cannot be doubted, he concludes, is that there must be someonewho is doubting. Though we may think that we are in the matrix, we are thinking, therefore, we must exist.

Descartes's rigorous skepticism introduced a brand-new burden of truth. In order for something to be true, it must be beyond all reasonable doubt. Many continue to use Descartes' skepticism as a way to challenge religious belief. According to these modern-day skeptics, unless you can prove that God exists beyond any reasonable doubt, there is no way to actually know whether he exists. The severing of knowledge and faith is often attributed to Descartes.

7. David Hume's Treatise on Human Nature

Scottish philosopher David Hume took aim at both Plato and Aristotle. One of his most famous and consequential claims about human nature is, "reason is and always ought to be slave of the passions." This took direct aim at Plato's view of human nature. Plato argued that our reason or "rationality" should always rule our passions so that we will desire what is good. Hume flips this on its head, claiming that our reason is helplessly enslaved to our passions and will inevitably justify what we will already want. From this, Hume introduced a new articulation of moral relativism, claiming that humans are not able to choose between what is good and what is evil, but rather will choose what they want over what they don't.

8. Kant's Contemplation on the Metaphysics of Morals

Hume's moral relativism sparked panic within German philosopher Immanuel Kant. If we will inevitably do what we desire, how can we ever choose to do something good and moral for its own sake? We must, according to Kant, separate morality completely from the passions if it's to be saved. Kant, therefore, argues that duty is the highest good that man can aspire to. We do the right thing, not because we want to--on the contrary, we do the "right thing" because it's our duty to do so, especially when we don't want to. This breaks away from the Aristotelian notion that our happiness is inextricably intertwined with the pursuit of "the good."

9. Nietzsche's Beyond Good and Evil

Nietzsche wasn't convinced by either Hume or Kant's efforts to retain some semblance of civility or relativistic moral standard. According to Nietzsche, if there is no such thing as transcendent morality, then "moral maxims" are reduced to meaningless words purported by the people in power. Morality, therefore, becomes a game of persuasion at best, coercion and force at worst. People are reduced to winners and losers, opressors and victims, and whoever comes out on top gets to impose their desired view of the world on the losers. Therefore, the goal of the individual is to cultivate the "will to power," to become the powerful "ubermensch" or "superhuman," or else you will be reduced to a victim susceptible to other people's coercion and oppression.

10. C.S. Lewis's The Abolition of Man

After the Enlightenment ends in a grand, destructive finale with Nietzsche, Christian philosophers in the 20th century attempt to pick up the pieces and resurrect the ancient and medieval philosophies that had been cast to the side. In The Abolition of Man, C.S. Lewis famously laments that mankind has become "men without chests." This is a direct reference to Plato's view of human nature--there is nothing linking our mind to our heart. Intellectually, we have dissected all of reality into its individual bits, stripping it of its holistic beauty, while also succumbing to our whims and passions with no notion of a transcendent moral law. Lewis calls for the re-marriage of our minds and our hearts, so that we will not only pursue what is good, but moreover, we will desire to do so.

11. Alasdair McIntyre's After Virtue

The latter part of the 20th century saw the resurgence of Aristotelian ethics after being largely dismissed over the past 400 years during the Enlightenment. Scottish Catholic philosopher Alasdair McIntyre was and continues to be one of the foremost leaders of this movement. In his magnum opus, After Virtue, McIntyre takes aim at the entire Enlightenment project itself and shows how it ultimately fails by its own standards. If reality is a mere power dynamic, as Nietzsche argues, and if morality is an act of persuasion and passion, as Hume purports, then we have no reason to take their views seriously. If all of reality is relative, then the statement "reality is relative" is itself relative. It becomes victim of the self-refutation of its own standards. Transcendent morality, he argues, must exist, because there must be some standard by which we judge reality and can say with determination, "this is good" and "this is evil."

The Biden Admin EXPANDED abortion access because they DON'T believe in the Constitution

Joshua Lott / Stringer, JOSEPH PREZIOSO / Contributor | Getty Images

This month has already produced an extreme example of why we need a functional and more conservative Congress in order for America to have a chance at moving forward—because the Left does not believe in the Constitution.

Sure, if you confronted a Democrat in Congress, they would probably claim some sort of allegiance to the Constitution—but as a practical matter, they do not believe in it.

Instead, the Left has put all of their eggs in the basket of the executive branch. Why? Because it has the furthest reach through all the various departments, and it can move the fastest—in short, because it’s the most dictatorial. It only takes a department head to write a new memo, or even better, the President to sign a new executive order to carry the force of law.

The Left has put all of their eggs in the basket of the executive branch.

Do you recall any of the Left’s favorite Supreme Court decisions over the years—something like gay marriage for example—and how Republicans immediately tried to subvert it, using the executive branch to try to nullify the decision? Yeah, that never happened. But that is exactly what Democrats have done in recent weeks to expand abortion access.

Democrats only consider the Supreme Court legitimate when they approve of the decisions. When the miraculous overturning of Roe v. Wade happened last summer, President Biden called it “a realization of an extreme ideology and a tragic error by the Supreme Court.”

Democrats only consider the Supreme Court legitimate when they approve of the decisions.

Recently the FDA approved local pharmacies to issue abortion pills. For the first 20 years after these pills were developed, they were not treated like typical prescription drugs. They had to be dispensed in-person by a doctor. That in-person requirement is now gone.

Keep in mind that the Left’s go-to line is that abortion is always about the health and safety of women, yet a 2021 peer-reviewed study found that chemical abortions have a complication rate four times greater than surgical abortions. Between 2002 and 2015, the rate of abortion-related ER visits following use of the abortion pills increased by 507 percent.

Chemical abortions have a complication rate four times greater than surgical abortions.

And now the Biden administration is making these less-safe abortions much more accessible. Thanks to the FDA’s rule change, Walgreens and CVS have already agreed to dispense abortion pills in states where abortion is legal—effectively turning these stores into new abortion clinics.

As for states that have abortion bans, "Team Biden" announced a new way around those too. Three weeks ago, the Justice Department issued a legal opinion that the U.S. Postal Service is allowed to deliver abortion pills anywhere, even in places where abortion is illegal. What’s their rationale? That the sender cannot know for sure whether the recipient will use the pills illegally or not. So it’s totally okay.

The U.S. Postal Service is allowed to deliver abortion pills anywhere, even in places where abortion is illegal.

Georgetown Law professor Lawrence Gostin told the Washington Post that this Justice Department opinion is “a major expansion of abortion access in the United States.”

So, to recap—the Biden administration has used the FDA, the Justice Department, and the Post Office, which all fall under the executive branch, to provide an end-run around the Supreme Court’s Dobbs v. Jackson decision.

Expanding abortion was easy—simple policy tweaks and declarations that carry the force of law without an ounce of input from actual lawmakers in Congress—all because it comes from the grotesque, bloated, apparently pro-death executive branch.

15 SHOCKING quotes from the World Economic Forum Davos Summit that should deeply trouble you

Getty Images / Staff | GETTY IMAGES

Glenn is one of the most outspoken critics of the World Economic Forum and their vision to use crises to reconstruct the world order known as The Great Reset. The recent WEF summit in Davos confirms what Glenn has long warned about: globalist elites seek to upend our democracy, freedoms, and way of life to achieve their utopian climate goals. Here are 15 quotes from the 2023 Davos Summit, revealing their true intentions in their own words:

1. Saving the planet

When you hear the word, "Davos," the first thought that should pop into your mind is an elite group getting together to save the world from imminent climate disaster... at least they think of themselves that way. According to John Kerry:

I mean, it's so almost extraterrestrial to think about saving the planet.

2. Private jets

What most people think when they hear the word "Davos" is a group of global elites flying in on private jets to talk about climate change... and yes, John Kerry does own a private jet, no matter how many times he denies it:

I fly commercial [...] Exclusively.

3. Global Collaboration Village

You always hear some weird, dystopian projects coming out of WEF, like "The Global Collaboration Village," a new metaverse community aimed at strengthening "global cooperation." It sounds like the next installment of Brave New World. According to Klaus Schwab, Founder and President of the WEF:

The Global Collaboration Village is the pioneering effort to use the metaverse for public good, to create global cooperation and to strengthen global cooperation in the metaverse or using metaverse technologies. For me, it's a dream coming true because the village allows the Forum to create a more larger and open platform where everybody can participate.

4. Climate revolution

However, the core theme throughout WEF summits is the immediate need for a climate revolution and how businesses are selfishly blocking the revolution because they want to make an extra buck. Here's how John Kerry summed up the sentiment:

How do we get there? The lesson I have learned in the last years [...] is money, money, money, money, money, money, money.

5. Do or die

This often turns into alarmist language, like having to choose between wealth and our planet's survival... Joyeeta Gupta, Professor of Environment and Development in the Global South at University of Amsterdam, said it eloquently:

If we do the minimum at this pivotable moment in our history, then we and our children – even if we are rich – will live in the danger zone. But if we – business people, governments, citizens, cities – take action today, then we and our children will have a future worth looking forward to.

6. Colossal risks

Potsdam Institute's director Johan Rockström, used similar language, claiming we are "taking colossal risks with the future of civilization":

We are taking colossal risks with the future of civilization on Earth, we are degrading the life support systems that we all depend on, we are actually pushing the entire Earth system to a point of destabilization, pushing Earth outside of the state that has supported civilization since we left the last Ice Age 10,000 years ago.

7. Rain bombs

"Colossal risks" like... rain bombs? We didn't make that up. Ask Al Gore:

That’s what’s boiling the oceans, creating these atmospheric rivers, and the rain bombs.

Courtesy of the World Economic Forum

8. Survival comes down to this

How do we secure our survival? According to UN Secretary-General Antonio Guterres, we have to "end our addiction to fossil fuels." This entails wiping out our entire energy industry, displacing millions of workers, and relying on global governments to usher in a new green industry. In his words:

So, we need to act together to close the emissions gap, and that means to phase out progressively coal and supercharge the renewable revolution, to end the addiction to fossil fuels, and to stop our self-defeating war on nature.

9. Complete transformation

It isn't hyperbolic to argue that the globalist climate goals will completely transform the world economy. Even EU Commission President Ursula von der Leyen admitted:

The net-zero transformation is already causing huge industrial, economic and geopolitical shifts – by far the quickest and the most pronounced in our lifetime. It is changing the nature of work and the shape of our industry.

10. Scientific necessity

Of course, to bring about this "net-zero" transformation, we will have to override small, "political expediencies" like democracy to do what is "scientifically necessary." According to Zurich Insurance Group’s head of sustainability risk John Scott:

We’re living in a world right now where what’s scientifically necessary, and what is politically expedient don’t match.

11. Illegal hate speech

Doing away with "political expediencies" would also require the censorship of dissent, which would likely manifest in hate-speech laws. When asked by Brian Stelter how the discussion of disinformation relates to everything else happening today in Davos, European Commission VP Věra Jourová shared this prediction:

Illegal hate speech, which you will have soon also in the U.S. I think that we have a strong reason why we have this in the criminal law.

12. Climate first

We will also have to forego national interests on the international stage. America won't be able to advocate for policies and interests that benefit Americans. Instead, we will sacrifice national interests for the sake of global climate interests. French economy minister Bruno Le Maire said:

The key question is not China First, US First, Europe First. The key question for all of us is Climate First.

13. The role of war

We can also expect globalist leaders to use crises, like the war in Ukraine, to expedite the "net-zero transformation." Chancellor of Germany Olaf Scholz said:

Ultimately, our goal of achieving carbon neutrality by 2045 has been given an additional boost by Putin’s war. Now we have even more cause to move away from fossil fuels.

14. Blame game

Globalist leaders will continue to blame ALL of the crises in our society on climate change to justify the "net-zero transition," from the energy shortage to "mistrust, selfishness [and] xenophobia." Prime Minister of Spain Pedro Sanchez said:

Our present struggle is not only against Putin or the energy shortage. It is also against fear, mistrust, selfishness, xenophobia, and environmental disaster. And its outcome will define life in the West and beyond for decades to come.

15. Sacrifice for the greater good

While we sacrifice our national interests for the sake of the "greater global good," we can expect our foreign enemies, like China, to benefit. Suisse Chairman Axel Lehmann said:

The growth forecasts now for China is 4.5%. I would not personally be surprised when that would be topped.

Conclusion

Glenn has been clear about the distinction between wanting to transition to green practices on your own accord and being forced into that transition by globalist, unelected elites. Leaders at Davos will continue to use alarmist language to justify their crackdown on democracy and freedom to bring about their leftist utopia. We have to cut through the alarmist language and in order to protect our freedoms.