The media didn't pay very close attention to the World Economic Forum in Davos, Switzerland, last week. Aside from coverage of the copious amounts of snow and the quick left spin on U.S. President Donald Trump's reception by the global elite, no one was really watching the gathering of billionaires and politicians there in the Alps.
They should have. The attendees are the One Percent and the people who worked to make 'em (and keep 'em) that way. These folks can money-whip the world in any direction they want it to go.
I'm not saying it's right; I'm not saying it's fair… but it's the reality. No investor can afford to go unaware of what these folks are doing.
I mean, I'm a skeptic, and not a believer in those weird "Illuminati" or "Trilateral Commission" conspiracy theories, but the Davos crowd comes pretty close.
They can raise and destroy markets, create or eliminate jobs – entire industries, even – and make or break just about every politician in the world.
The headlines from this gathering of gatherings, what few there were, were almost uniformly bright. Trump declared America "open for business," and the sentiment was well-received by the global honchos listening in.