Archive for January 24th, 2013

January 24, 2013

Me and Davos

by Teréza Eliasz-Solomon (HeiressMommy™)

World Economic Forum in DavosMany gals dream of traveling to luxury resorts … which I have REALLY frequently done. Other ladies dream of dining in fine bistros … which I most definitely REALLY have done. Still others of the female gender dream of shopping in the best and most glamorous stores … which I have also REALLY often done. Quite a few women dream of having a REAL full time hairdresser … which you my dear readers know I definitely am thrilled with REALLY having. Of course, most women – I included – dream of a good marriage and children … which I have been blessed to REALLY being able to have achieved. For me, one of the to date not yet realized dreams has been (for many years) to be attending the Davos World Economic Forum that occurs annually in the Alpine beauty of Davos, Switzerland during the month of January. I believe my desire to participate in this important event probably first began in the mid 1980’s but at that time it was mostly the purview of government officials and economist types. Fortunately for me, recent years have opened Davos to other disciplines and individuals from varied spheres of influence. My dear father, Abraham, thought I might consider a post graduate degree at our Philadelphia iconic Wharton School because my interest in world economy and its affects on humanity seemed evident. But alas, except for a few Temple University undergraduate courses [statistics, econ 101, etc.] and peripheral non-credit graduate school participation, I did not pursue a degree in finance. Choosing medicine and law was a tried and true chosen pursuit instead for a nice Jewish girl like me … and yet I never waned from desires to participate in Davos and other similar events because I REALLY believe all things human are economic in one or another sense. I have morphed into sort of “renaissance” type – for this much credit is owed to my wise erudite parents who promoted an eclectic life. Never resting on ones laurels so to speak was the tonality of the household I was raised in and me likewise with my own. So it is with new found opportunities [book deal, et al.] that I asked my dear publicist to include Davos in my life “bucket list” asap. Allow me to enlighten and inform you on the why and wherefore – the REAL importance to all humanity – that venues like Davos present. Who knows maybe you and me will be meeting up in the great halls where such weighty matters are discussed … besides, I have been to Switzerland and I can assure you that the skiing there is marvelous.

I find the 2013 theme of this annual forum interesting – “Resilient Dynamism” that was described by Klaus Schwab, executive chairman of the event as “the ability to respond to the many global risks we currently face, and to seize the opportunities it provides.”. It is this broadly stated task that the 2,655 academics, business leaders, government officials, politicians, artist types and want to be world shapers will be discussing this year in Switzerland. The world truly has become one in economic terms – it used to be said that “when the United States sneezes, the world caught a cold” but now it is equally a truism that all nations get ill on account of one small corner of the globes bad health. Unkemptness in one local market can result in a worldwide economic pandemic. Modernity denotes that we all are REALLY our brothers and sisters keepers – no going back folks – we are in this global market together forever and we must address the good and bad as such. Now there is no need for some of you to get xenophobic at this point … I am NOT in any way suggesting that neither our nor any other nation suspend its individual currency or singular economy. Instead I am insisting we all grow up – the current and permanent world economy denotes a shared and interactive planetary effort. Surely, we Americans realize that fighting wars in Iraq and Afghanistan and elsewhere entails a global effort … our embassies being attacked equally denoting of the need to engage outside the U.S. borders in all venues. Not only humanitarian imperatives but economics necessitates world involvement – after all, we REALLY need trading partners. Simply put – if other nations are stable and prosper, they can buy our stuff – then we have more employment and entrepreneurial stability. Yes, I know – sounds selfish and a bit predatory but it is simply math … all countries when vital in economic terms will be good partners on the international stage. One only need examine the post WWII Marshall Plan to understand we prosperous nations would and did fund the economies of even previously sworn enemy nations – it was not a purely humanitarian selfless act that led America to rebuild Europe and Japan after WWII. What post war U.S.A. and our allies realized was the undeniable fact that only by improving the economic status of other nations would the world ever be REALLY stable again – defeating the ultimate evil of Nazi fascism was not going to be enough to restore the global populace to productivity. It is fully a compatible scenario with the current fight against global radical terrorism that we prosperous nations be forward thinking and actively supporting building other countries and our own economies … Germany is the perfect offspring example of what we did post WWII to ensure a vital European economy that would then affect positively America’s and the world financial markets. In an upcoming blog post I discuss the idea that “charity REALLY does begin at home” but not with full success if the larger community suffers.

JP Morgan Chase CEO, Jamie Dimon, addressed perfectly the banking situation during an opening panel discussion at Davos this week.. Dimon said that what the banking industry needs “is not more regulation or less: you need good, strong and proper regulation.”. I agree – the stupefying argument from extremist on the very liberal left and the very conservative right sides of political diatribe both suffer from too much tunnel vision and self interest motives. Still the adage “too big to fail” that banks invoked four to five years ago when begging for U.S. Federal bail outs is ridiculous … if you are so large as to be without self regulation or discipline, then maybe your business structure is outdated or possibly too burdensome for society. Reasonable legislation and strong oversight must rule the day – serious and sophisticated discourse is only avenue toward proper administration of the world’s economy. Some liken a national budget to a family money plan … yes and no – there is definitely the salient point that one needs to set aside funds for all eventualities whether a family or nation. The comparisons the groups like America’s so called Tea Party in their insistence that we not raise our U.S.A. debt ceiling in order to force budget cuts – as they suggest families do in order to pay necessitated bills – is quite absurd. The REAL fact is a national budget is much more like a business than a family – it is the need to spend money to make money that companies know to be true that is more similar on account of a nation’s need to fund growth to develop their economies. No need to look further than Greece to understand that austerity measures REALLY do not work … it is simply math – persons receiving subsidies spend those funds on goods and so businesses thrive and money circulates. See – simple – right? Well not really a simplistic theory but still proven to be a historical truism.  Anyway, I will definitely be putting my opinions into play when I finally get that dream to come true … me at Davos World Economic Forum by 2016 or 2017 – surely doable after my memoir, Heiress Mommy … A Modern Super Woman Life!   is published. You must trust me – my being there will be no more an oddity than this year’s included Major League Baseball star Derek Jeter being a guest at a Davos luncheon sponsored by Pepsi!

P.S. What no mention of The Miscreants™ you say … all right – listen: There is no possible way those idiots know what Davos even is and I REALLY know they have never read my favorite generalist periodical The Economist, which by the way is NOT a economics tome but instead a world wide and multiple topic amazing erudite and REALLY enjoyable magazine. On a REALLY serious note, folks in the know have shared with my very protective husband and I that Davos is a secured venue … which reassures us members of THE REAL Evil Doers Club™ would not be a threat during my attendance. Stay tuned – obviously I will be blogging about my eventual Davos invite, as well as the entire swell group of attendees, great food and skiing there. Question now is – what shall I wear???

%d bloggers like this: