I wasn't invited to Davos again - must've been an oversight - to witness the annual gathering of the planet's most important people at the World Economic Forum (WEF).
Looks dead boring so far, though, check out these pics - although I do like the
freaky, '60s-inspired 'never stand still' foyer.
New Zealand's Trade Minister Tim Groser is representing our interests at the WEF.
The showpiece panel debate, which included "celebrity economist" Nouriel Roubini and "advertising magnate" Martin Sorrell, addressed, of course, the big issues of the day: state of the recovery, emerging economies, rising commodity prices and so on.
As this newswire summary reports, the WEF panel also identified 'income inequality' as a "major problem that could feed social unrest, creating uncertainties that might stifle the recovery".
(Read this pre-Davos piece from The Economist if you're interested in an alternative take on the inequality crisis.)
Back on the WEF panel Sorrell (a member of the mega-rich class himself) shared his observation that because wealthy people are more likely invest their spare cash in financial assets "that causes asset bubbles".
Although it's emotionally satisfying to blame the rich for everything, I don't think Sorrell is 100 per cent correct.
The spare cash of the less financially-endowed that is chasing the same financial assets via pooled funds, pension schemes, KiwiSaver and the like must surely contribute to the bubble-blowing too.
Don't worry, it's all under control. Here's some world leaders confronting the "new reality".
