Blogging Davos

by Jerome a Paris
Mon Jan 12th, 2009 at 09:31:12 AM EST

We get mail - and flattery always works:

As part of CNN’s coverage of Davos, we’re talking to a handful of influential bloggers and offering them the unique opportunity to have their own questions answered by business leaders at the event, as part of its ‘Dear Davos’ initiative.

We were very interested to read some articles on The Oil Drum, especially in your post 'EU energy consensus - trending in the right direction'. Your knowledge around energy concerns and the blogging on Eurotrib further demonstrates your passion on the subject. As energy and environmental issues will be key topic for the Davos summit we thought you might be interested.

CNN would like to give you and your blog readers the exciting opportunity to have your question put directly to business leaders at Davos.


CNN wants to know the question that is most pertinent to you and your readers. If your question is used your blog will be referenced on-air, and we’ll send you a clip of the interview for use on your blog. Even if your question doesn’t get chosen for air, you’ll have the chance to be on the shortlist of all the questions submitted, as selected by the CNN editorial team, and featured on the CNN site, containing a link back to your blog.

There’s more information available at www.cnn.com/deardavos

One question. Without knowing exactly to whom it will be asked... This is definitely a task worthy of the eurotribbers!

I would propose:

why are we still listening to the people that, collectively, drove us headlong into the current crisis?
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"Have you no shame?"

"Ideas or the lack of them can cause disease." - Kurt Vonnegut
by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 09:43:01 AM EST
But why waste this opportunity asking a question we already know the answer to?

Come, my friends, 'Tis not too late to seek a newer world.
by poemless on Mon Jan 12th, 2009 at 10:48:02 AM EST
[ Parent ]
"Is Wolf Blitzer ever going to make up his mind on that God-damned beard?"

WHEEEEEEEEEEEEEEEEEEEEE!!
by Drew J Jones (blahblahblah@blahblahblah.com) on Mon Jan 12th, 2009 at 09:44:44 AM EST
4'd because I'm drunk.

you are the media you consume.

by MillMan (millguy at gmail) on Mon Jan 12th, 2009 at 10:15:36 AM EST
[ Parent ]
Seldom have post and sig line matched so well. ;-)

"Ideas or the lack of them can cause disease." - Kurt Vonnegut
by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 10:17:00 AM EST
[ Parent ]
Carlsberg, so it's garbage in garbage out I'm afraid. Now everyone go listen to metatone.

you are the media you consume.

by MillMan (millguy at gmail) on Mon Jan 12th, 2009 at 10:36:42 AM EST
[ Parent ]
I'm afraid I have no beer at all today, which is a taste improvement on Carlsberg, but not an improvement for morale...
by Metatone (metatone [a|t] gmail (dot) com) on Mon Jan 12th, 2009 at 10:46:09 AM EST
[ Parent ]
What are you doing drinking that?  I think I'd drink a can of WD-40 before ever having another Carlsberg.

WHEEEEEEEEEEEEEEEEEEEEE!!
by Drew J Jones (blahblahblah@blahblahblah.com) on Mon Jan 12th, 2009 at 10:46:40 AM EST
[ Parent ]
I'm in Malaysia with very limited options.

you are the media you consume.

by MillMan (millguy at gmail) on Mon Jan 12th, 2009 at 10:48:29 AM EST
[ Parent ]
It's worse than you imagine. That Carlsberg is probably locally made, has it got rice among the ingrdients ?

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jan 12th, 2009 at 10:56:19 AM EST
[ Parent ]
Limited.Options

When locusts move on, they leave nothing behind
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jan 12th, 2009 at 11:30:11 AM EST
[ Parent ]
The one question you are not allowed to ask is "Why are we supposed to be listening to these alleged business leaders in the first place".  You cannot question their self importance.  In any case - "a few bad eggs - e.g. Madoff" won't be invited, and those who are there will be preening themselves at having survived the crisis so far and regaling each other with stories of how brilliant they were to avoid its worst effects.

There will be lots of talk of "green shoots" of recovery, of Obama's energy policies as if he invented wind energy (much like Gore inventing the internets), of stimulus packages ushering in a new era (never mind that they are basically about turning private profligacy and debt into public debt).

Don't expect too much talk of income redistribution, of inequality = inefficiency, or even of much more effective global financial governance.  That is all for the anti-globalisation crowd, and globalisation can't be questioned.

So really, these conferences are more about the questions you can't ask rather than the ones you can:

Questions you can't ask

  1. Don't mention the (Iraq) war - it was invented by someone else long gone into history

  2. Should business leaders who got huge bonuses in the good times now be required to pay them back as they were demonstrably created by fraudulently inflated assets accounting

  3. Should business taxes be increased in a coordinated global way to pay off public deficits?

  4. Should carbon fuels be subjected to escalating taxes on a geometric scale to price them progressively out of the energy market?

  5. Should Globalisation only be permitted within a globalised political governance structure to prevent tax competition/avoidance/evasion, and a regulatory race to the bottom?

  6. Should international law mandate the progressive reduction of Gini indices worldwide to ensure a more sustainable and equitable allocation of scarce resources?


notes from no w here
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Mon Jan 12th, 2009 at 10:17:00 AM EST
I'd add "Do you think charging Tobin's tax on transactions in CDS and CDOs would have prevented or eased the bubble which gave us current financial crisis?"
by Sargon on Mon Jan 12th, 2009 at 10:50:31 AM EST
[ Parent ]
That's a depressingly accurate way of thinking about it.

How about "how does globalisation work in a world facing an energy crunch and increasing transportation costs ?" It's not a question that advances our agenda, but it gives us a chance to see what they're thinking about.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon Jan 12th, 2009 at 10:53:47 AM EST
[ Parent ]
Globalisation.Works

When locusts move on, they leave nothing behind
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jan 12th, 2009 at 11:32:23 AM EST
[ Parent ]


notes from no w here
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Mon Jan 12th, 2009 at 12:31:35 PM EST
[ Parent ]
You can ask number two because it follows the bad apples narrative. When the public demands blood, sacrificing a few individuals is trivial and preferred in comparison to publicly beneficial institutional changes.

you are the media you consume.

by MillMan (millguy at gmail) on Mon Jan 12th, 2009 at 10:54:50 AM EST
[ Parent ]
Is anyone prepared to start treating energy policy on a 30 year timescale, rather than a 3 month one?
by Metatone (metatone [a|t] gmail (dot) com) on Mon Jan 12th, 2009 at 10:26:30 AM EST
sorry but my shareholders require quarterly profits and cashflow reporting, and right now they are more interested in cash flow...

notes from no w here
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Mon Jan 12th, 2009 at 10:41:59 AM EST
[ Parent ]
To much substance, not enough words.

"Ideas or the lack of them can cause disease." - Kurt Vonnegut
by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 10:44:32 AM EST
[ Parent ]
"Firstly - and this is important - there is no energy shortage. There are sufficient energy resources to meet global needs far into the future.

"Secondly, a time frame of 30 years is entirely too long to permit rapid responses to the developments we will see on the energy markets going forward as more and more developing nations seek to meet their increasing energy demands.

"The challenge then is essentially one of assuring adequate investment in new energy resources - in alternative energy sources as well, of course, but fossil fuels will remain the main source of energy far into the future.

"Both these aims are best achieved by allowing the markets to function without interference from cumbersome bureaucratic regulation - which is naturally less efficient and less able to respond dynamically to rapidly evolving market conditions."

How am I doing so far? ;-)

"Ideas or the lack of them can cause disease." - Kurt Vonnegut

by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 11:13:16 AM EST
[ Parent ]
Pretty good, so when do you head out for Davos?
by Metatone (metatone [a|t] gmail (dot) com) on Mon Jan 12th, 2009 at 11:20:20 AM EST
[ Parent ]
Just as soon as I finish negotiating my pay package.

Those fools want to cut me off at $3M a year base salary and clawbacks on my performance bonus. The nerve!

"Ideas or the lack of them can cause disease." - Kurt Vonnegut

by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 11:31:41 AM EST
[ Parent ]
No price is to high for global insights like this...

notes from no w here
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Mon Jan 12th, 2009 at 12:34:40 PM EST
[ Parent ]
Thanks, Frank!

Wanna be on my Board of Directors?

"Ideas or the lack of them can cause disease." - Kurt Vonnegut

by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 01:00:08 PM EST
[ Parent ]
You couldn't afford me!!!

notes from no w here
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Mon Jan 12th, 2009 at 01:13:10 PM EST
[ Parent ]
Subsidiary: "If thirty years is too long for rapid responses to developments, why are you forecasting what energy resources will be around over the next thirty years?"

Answer: no subsidiary questions, thank you.

When locusts move on, they leave nothing behind

by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jan 12th, 2009 at 11:41:02 AM EST
[ Parent ]
Aw come on, let's make it a little more sporting:

"As I indicated before, there are sufficient resources for the next 30 years and beyond. What we cannot predict is whether we will be able to unlock these resources and bring them to market in a timely fashion so as to enable us to satisfy rapidly evolving demand trends within the context of an increasingly dynamic global economy.

"Unlocking and delivering these resources will demand significant investments. Left to itself, the market will undertake these investments - but not if it is hindered by overly onerous environmental and other regulatory burdens.

"No company is more committed to environmental quality than we are, but excessive regulation is the surest way to choke off economic growth and recovery before it begins."



"Ideas or the lack of them can cause disease." - Kurt Vonnegut
by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 12:08:19 PM EST
[ Parent ]
Ooh you really want your $3m pa, don't you?

Sub-subsidiary: "You seem to miss the point. If efficient allocation of resources depends on "satisfying rapidly evolving demand trends", on what basis can you make long-term forecasts of resource availability?"

When locusts move on, they leave nothing behind

by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jan 12th, 2009 at 12:33:05 PM EST
[ Parent ]
Silly, silly, silly.  We don't have to make long term forecasts.  We KNOW the world has enough resources - its axiomatic - on the lines of God the markets will provide

notes from no w here
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Mon Jan 12th, 2009 at 12:39:59 PM EST
[ Parent ]
Piece o'cake. Let's see if I can take it up a notch:

"Well, the fact of the matter is that those resources are out there in the ground. The question is how best to extract them so that we can create jobs and prosperity.

"The fact is that centralized planning has been conclusively proved much less effective in anticipating and allocating resources than the market. It is not humanly possible to anticipate every possible fluctuation in demand - and fluctuations there will inevitably be as a consequence of our dynamic and vital global economy - but the workings of the market represent the best possible mechanism for resolving these with maximum efficiency within the shortest possible time.

"I realize that a quasi-ideology of total regulation has become rather fashionable. I'm sure this type of 'pure theory' is not without its charms in certain intellectual circles, but the fact is that heavy-handed government intervention will handicap market efficiency extremely severely. In practical terms, any policy maker who goes down that road is irresponsibly putting the jobs, well-being and livelihoods of his citizens at great risk."

I think I'm gonna demand a private jet as well.

"Ideas or the lack of them can cause disease." - Kurt Vonnegut

by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 12:58:35 PM EST
[ Parent ]
Keep this up you gonna ketch a bullet when the revolution comes.

When locusts move on, they leave nothing behind
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jan 12th, 2009 at 01:42:47 PM EST
[ Parent ]
Maybe, but I'll never have to honestly answer a question. ;-)

"Ideas or the lack of them can cause disease." - Kurt Vonnegut
by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 02:00:07 PM EST
[ Parent ]
DVX - you are showing a dangerous proficiency in corporate/Newsweek/CNN media speak - something that could get you banned around here if your not careful.  Please control your effusions...

notes from no w here
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Mon Jan 12th, 2009 at 12:46:23 PM EST
[ Parent ]
I even scare myself sometimes.

Seriously, often enough have to translate marketing bullshit, and I find it flows best at this time of day, when my cynicism is at its max and my willingness to suspend belief and take this crap seriously is running on fumes.

"Ideas or the lack of them can cause disease." - Kurt Vonnegut

by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 01:08:29 PM EST
[ Parent ]
I don't say, "Good luck with your job interview!"  Clearly, it's in the bag!  
by Gaianne on Wed Jan 14th, 2009 at 07:07:37 AM EST
[ Parent ]
Tha requested focus does in fact seem to be on energy and environment.

When locusts move on, they leave nothing behind
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jan 12th, 2009 at 11:49:39 AM EST
[ Parent ]
I got yer 30-year payback righchere. Councilman lobbies for loans to make houses energy efficient with some of that TARP lube!

Berliner (D-Dist. 1) of Potomac has joined Climate Communities, a Washington D.C.-based coalition of cities and counties charged with addressing climate change at a federal level, to push his plan for federally-subsidized home-energy audits.

Berliner proposes granting zero-interest $5,000 loans to county homeowners

Dood! Five grand is chump change. The economy is in CRISIS! Go long on $30K minimum and truly "recapitalize" RE "fair value." What the hell, I'll promise NOT to be my own independent contractor ...

who would then use the loans to pay for a home-energy audit and recommended efficiency improvements, such as solar panels or geothermal heat, or simple fixes like caulking around windows.

"It's a game-changer because the homeowner taking the loan no longer has to calculate whether it's a cost-effective loan or not," Berliner said. "The homeowner can take out the loan, get money in their pocket and not worry about it."

Homeowners would repay the loans through additional costs pinned to their property taxes. If a homeowner moves, the new owner would be responsible for the remainder of the money owed.

Funding for the loans, which would come from the federal government if Berliner gets his way, would be managed by a proposed Montgomery County Home Retrofit Revolving Fund.

Meanwhile, downstream, fossil fuel producers ponder alternatives to foreclosed granite countertops...

Jackasses Solicit Certain Better Ideas | Bloomberg | 12 Jan 2009

President-elect Barack Obama is making "significant" changes to his economic stimulus program, such as boosting energy tax incentives, after members of his own party called elements of the plan inadequate.

"I think they're moving very effectively to respond to the issues that we raised the other day," Senator John Kerry, a Massachusetts Democrat, said yesterday after lawmakers met with Obama economic advisers Larry Summers and Jason Furman.

Senator Maria Cantwell, a Washington Democrat, said Summers showed a willingness to double tax credits in the bill for renewable energy to more than $20 billion. ...

Cue Eddie Murphy Raw, Nuttin from nuttin leaves nuttin ...

"We're going to have a collaborative, consultative process with Congress over the next few days," Obama said yesterday on ABC's "This Week" program. "If people have better ideas on certain provisions," the president-elect said, "we welcome that." ...

Cantwell said senators are discussing allowing unprofitable [?!] solar and wind energy producers to cash in tax credits they otherwise wouldn't be able to use until they become taxpayers. Senators are also considering whether to make the credits tradable, she said.



Diversity is the key to economic and political evolution.
by MarketTrustee on Mon Jan 12th, 2009 at 12:32:55 PM EST
[ Parent ]
Who'da thunk it!  The beginning of a depression, when bankruptcies are soaring and measures of business activity look like the arc of a cliff diver in Acapulco, is not the time to be giving businesses tax credits?  

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer on Mon Jan 12th, 2009 at 03:58:25 PM EST
[ Parent ]
I'm uncertain if you can imagine the rage I feel every time I encounter this trickle down, pump-and-dump reguritated pablum pumped by "representatives" through MSM. Or how much it pains me to keep my mouth shut in the face of some ... to get a job offer in order to someday realize that tax credit after I've borrowed at market rate to purchase (to assume) some WaMu-like modified mortgage and 20x$5K to replace HVAC, then I filed a 1040 and state-funded "public-private" rebate apps.

Diversity is the key to economic and political evolution.
by MarketTrustee on Mon Jan 12th, 2009 at 06:07:31 PM EST
[ Parent ]


Come, my friends, 'Tis not too late to seek a newer world.
by poemless on Mon Jan 12th, 2009 at 10:40:50 AM EST
As satisfying as it is for all of us to imagine the Powers that Be and Wannabe a hard (or even substantive question), the reality is that the respondents in question are rhetorically so highly experienced (not to mention meticulously trained) that they can effortlessly slide right by any one question, however pointed or pertinent.

So I wonder if CNN would be open to a counter-offer: ET will prep any CNN correspondent for a hard-hitting one hour interview on economics and/or energy with any Davos summit participant (hell, or any other "leader" for that matter), complete with facts, questions and follow-ups to likely waffles.

That should be good for a scoop or two (or at least some nice video footage of one of these characters exposed as out of their depth).

"Ideas or the lack of them can cause disease." - Kurt Vonnegut

by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 10:43:18 AM EST
... to imagine ASKING the Powers that...

"Ideas or the lack of them can cause disease." - Kurt Vonnegut
by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 10:45:46 AM EST
[ Parent ]
That's a great thought. Far too good for CNN to take it up I suspect.

I think that given that we don't know who will even get asked, the best hope for the question is to be thought-provoking in itself. Maybe it can sow the odd seed.

by Metatone (metatone [a|t] gmail (dot) com) on Mon Jan 12th, 2009 at 10:50:42 AM EST
[ Parent ]
As regards the question in this specific case I agree with you.

However, it occurs to me to wonder if there might not be a niche for this sort of a service after all. As the trad news outlets wither over the coming years they will be forced to shed whatever fact-base skills they still have. It might just be worthwhile for a trad news outlet to source factual stuff to a knowledge aggregator like ET if it would make their product more readable/watchable than the competition's.

"Ideas or the lack of them can cause disease." - Kurt Vonnegut

by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 11:00:49 AM EST
[ Parent ]
By which time we take over yuck yuck evil cackle yuck.

When locusts move on, they leave nothing behind
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jan 12th, 2009 at 11:44:12 AM EST
[ Parent ]
Well that would rather accelerate the process, that's true.

But they're too clueless to notice.

"Ideas or the lack of them can cause disease." - Kurt Vonnegut

by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 11:50:42 AM EST
[ Parent ]
It would make them look too good to the public, the ratings would go through the roof, great swaths of the public will tune back in to CNN for real news.  

Payoff is way too good, they won't go for it.

Offer it anyway, just to see if they nibble.

by NvDem (Ed@igreno.com) on Mon Jan 12th, 2009 at 10:48:29 PM EST
[ Parent ]
"It seems most business leaders have over the past N years managed to insert their heads quite deeply into their anuses. Doesn't this hurt?"

Follow up:

"In the many cases where the insertion has passed the crucial 'chin barrier', have any progress been made in identifying and implementing effective extraction procedures?"

by someone (s0me1smail(a)gmail(d)com) on Mon Jan 12th, 2009 at 10:50:16 AM EST


"Ideas or the lack of them can cause disease." - Kurt Vonnegut
by dvx (dvx.clt ät gmail dotcom) on Mon Jan 12th, 2009 at 10:54:24 AM EST
[ Parent ]
"Given that all of us are colossal assholes, supple-spined, and chinless wonders, I fail to see the relevance of your lovely question thank you for asking it."

When locusts move on, they leave nothing behind
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jan 12th, 2009 at 11:46:26 AM EST
[ Parent ]
"That is the reason we are always seeing double dips in our graphs.  Our tonsils are obstructing our view."

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer on Mon Jan 12th, 2009 at 04:04:43 PM EST
[ Parent ]
CNN - Blogging Davos
If your question is used your blog will be referenced on-air, and we'll send you a clip of the interview for use on your blog. Even if your question doesn't get chosen for air, you'll have the chance to be on the shortlist of all the questions submitted, as selected by the CNN editorial team, and featured on the CNN site, containing a link back to your blog.

It's almost as if they still think we need them to legitimise us.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jan 12th, 2009 at 11:23:23 AM EST
I read the reverse ; they are asking for "legitimatisation" of their questions, and are offering traffic in return...

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Mon Jan 12th, 2009 at 11:49:10 AM EST
[ Parent ]
How can you ETers put this opportunity to YOUR advantage?  It's worth a thought, especially with Jerome recently being on France 24.

Time for the bloggers to get set to step up to the plate.  Please see this.

I love the smell of roast chicken in the morning!

by THE Twank (yatta blah blah @ blah.com) on Mon Jan 12th, 2009 at 11:58:33 AM EST
[ Parent ]
But then, as we saw with the FT LTE, the real internet traffic doesn't come through big media but through community driven websites, remember the digg outing ? The public has already moved on from MSM.

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Mon Jan 12th, 2009 at 05:51:03 PM EST
[ Parent ]
I'd laugh if I wasn't crying.

Moved on from MSM? Have you any evidence for that assertion?

by Colman (colman at eurotrib.com) on Mon Jan 12th, 2009 at 05:53:29 PM EST
[ Parent ]
How much traffic did Jerome's LTE brought ? how much came through digg last year ?

Why are 9/11 conspiracy theories, constantly ridiculed by MSM, still going strong ?

The MSM on the 'net is yahoo news, not CNN...

Un roi sans divertissement est un homme plein de misères

by linca (antonin POINT lucas AROBASE gmail.com) on Mon Jan 12th, 2009 at 06:17:19 PM EST
[ Parent ]
How has that anything to do with "the public abandoning MSM"?
by Colman (colman at eurotrib.com) on Mon Jan 12th, 2009 at 06:33:22 PM EST
[ Parent ]
Does the public still trust the MSM ?

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Mon Jan 12th, 2009 at 06:38:10 PM EST
[ Parent ]
Who are "the public"?
by Colman (colman at eurotrib.com) on Mon Jan 12th, 2009 at 06:43:06 PM EST
[ Parent ]
I like Jerome's question.  Unfortunately CNN will be asking it to the people who have, collectively, driven us headlong into this current crisis.  

Therefore, I predict that we will not like the evasive answer.

by NvDem (Ed@igreno.com) on Mon Jan 12th, 2009 at 11:58:04 AM EST
Who can admit of being wrong, show regret of mistakes? Academic economists cannot  do that. Political economists certainly won't do that. Big deciders won't even consider that. All together they will enjoy quite a comfortable group-think in Davos.

So, how can the right and considerate people get a more influential voice? Is allowing them to ask one question enough to improve civilization's decisions? I wish Jerome to formulate a better similar question :-) Certainly, it would be nice if the CNN would actually channel Jerome through!

by das monde on Tue Jan 13th, 2009 at 04:54:16 AM EST
[ Parent ]
The recent financial crisis has shown that trust is not just some variable on a spreadsheet, but a precondition for a functioning market. Without trust the market breaks down.

Nowadays there is lots of talk of "restoring trust in the market" by drowning banks in government money.

But in a market, the only way to ensure trust is to make buyers know what they are buying and from whom. How is this possible in the financial market without strict regulation and transparency rules?

by Trond Ove on Mon Jan 12th, 2009 at 12:24:31 PM EST
the best hope for the question is to be thought-provoking in itself. (Metatone)

...It's not a question that advances our agenda, but it gives us a chance to see what they're thinking about. (Helen)

a) I'm not sure about the "agenda"; I thought there was no clearly framed agenda.

b) "To find out what they're thinking about" is what I also think is more interesting than the good questions aimed at obtaining precise answers, since

the reality is that the respondents in question are rhetorically so highly experienced (not to mention meticulously trained) that they can effortlessly slide right by any one question, however pointed or pertinent. (dvx)

Therefore, I would try to keep the question as vague as possible with the hope of inadvertent revelations, something like,

It has been said that after this crisis/recession/depression, the economy will be no more as it was before.  
With the hope that it will crash no more, what do we have to expect of the "day-after-the-crisis-economy"?*

Maybe also:
"What role are competing political systems going to play therein? "
(Will it be "politics first", or "economy first"?)

* IMO it's better to not use the question to criticise but to demonstrate that they're trusted to find a solution because we want them to share it with us.

by Lily on Mon Jan 12th, 2009 at 12:44:55 PM EST
"Do you expect the return and perceived legitimacy of the 'political' to 'political-economy'?  If not, how do you expect the 'invisible hand' to fix things?"

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer on Mon Jan 12th, 2009 at 04:10:35 PM EST
[ Parent ]
"...how do you expect the 'invisible hand' to fix things?"

"Will there be a new currency to replace the US$?"

(Ideally, but this won't be possible, any question should come as a surprise... )

by Lily on Mon Jan 12th, 2009 at 05:29:21 PM EST
[ Parent ]
I like Jerome's suggestion, with the slight modification that I'd like to identify "the people that, collectively, drove us" so as to preempt the inevitable dolchstosslegenden about China, over-tight regulations, meddling politicians and a failure to bail out Lehman Brothers.

So something along the lines of

Since business leaders, right-wing economists and leading pundits have played a major role in pumping up the bubble that caused this crash, why precisely are we supposed to go to them for advice?

It just needs to be cut in half, so as to fit within a soundbite.

Or we could go with "how many Madoffs do you think are attending this summit?" Or "how many people at this summit have been involved in business transactions that would have been considered outright fraud fifty years ago?" Just to watch them squirm...

- Jake

640 kiloton should be enough for anybody

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Jan 12th, 2009 at 04:02:24 PM EST
Since business leaders, right-wing economists and leading pundits have played a major role in pumping up the bubble that caused this crash, why precisely are we supposed to go to them for advice?

Because they still decide where the economy is going!

by Lily on Mon Jan 12th, 2009 at 05:39:38 PM EST
[ Parent ]
Lily:
Because they still decide where the economy is going!

That's where you're wrong, I think.

The steering wheel has come off in their hands...

Modern conservatives engage in one of man's oldest exercises in moral philosophy: the search for a superior moral justification for selfishness.Galbraith

by ChrisCook (cojockathotmaildotcom) on Mon Jan 12th, 2009 at 07:24:47 PM EST
[ Parent ]
Then you, one, we should ask,

"Who's holding the steering wheel right now?"

by Lily on Tue Jan 13th, 2009 at 02:48:14 AM EST
[ Parent ]
That is not an argument for going to them for advice. That is an argument for taking the keys to the economy away from them. If your colleague crashes his van into a school bus because he's passed-out drunk, you do not go to him for advice on commuting. You take away his car keys.

- Jake

640 kiloton should be enough for anybody

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Jan 12th, 2009 at 08:47:23 PM EST
[ Parent ]
Then you should ask,

[holding a gun to his head]
"I don't want your advice. Give me your keys. Now."

by Lily on Tue Jan 13th, 2009 at 02:50:11 AM EST
[ Parent ]
Bingo. But "you'll be the first against the wall when the revolution comes" doesn't inspire nearly as much thoughtful reflection as it used to :-P

- Jake

640 kiloton should be enough for anybody

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Jan 13th, 2009 at 05:07:36 AM EST
[ Parent ]
The guy who by his presence at Davos knows that he still holds the keys (after all), does not fear, does not see any necessity for thoughtful reflection on any ET question though he will be prepared for every eventuality, except the surprise* or vague question.

* which should not surprise by its absurdity but by hitting the nail

by Lily on Tue Jan 13th, 2009 at 05:47:09 AM EST
[ Parent ]
Your first choice is so direct and refers to such a indefensible, ridiculous pratice, that I cannot imagine something better. I would change a word, though, since you act as the interviewer:
- why are You still listening to the people that, collectively, drove us headlong into the current crisis?

At this point I must confess to continue to believe that there is general progress in human history. We shall always be ruled by thieves - the most socially respectable of them organising events like Davos -, but thieves who learn (or have no other alternative but) to steal a bit less from others.

Still, a question must be suggested. Hmmmm. Lets pick something divisive, even poisonous:
- Now that the american consumer is strongly absent from markets, who should acquire the best fruits of industrial innovation?

The Davos club is the G8, the Trilateral, the holders of white man's burden of guiding mankind plus their samurai friends who work so well and gave up their military independence ... hmm ... who in our side hasn't gave up their military independence .. ah, yes, the french have there own nukes ... lets just ignore them ... well, any those denominations - in winter holidays.
Therefore, it is serious fun to invite them to think that the wealthy classes of the uninvited member countries should be the prime recipients of the de-localised mass consumption society.

by findmeaDoorIntoSummer on Mon Jan 12th, 2009 at 04:13:35 PM EST
Is Davos obsolete in the ever changing world of Globo-corpo-fascism and is it giving way to other financial capitals of the world like Dubai for example?
by Lasthorseman (Lasthorseman@comcast.net) on Mon Jan 12th, 2009 at 07:59:06 PM EST
I am sorry Jerome....

only one question?

You need more than a couple of them.

One to show them how sutpid they are (ok say a couple of them).

another one to blow their heads off.

a couple of questions to be nasty with them.

a couple of them to destroy their paradigm.

And a couple of them to propose good policy...

You can not make it with one....:)

A pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Tue Jan 13th, 2009 at 07:26:45 AM EST
why are we still listening to the people that, collectively, drove us headlong into the current crisis?

"Why are we..." is a question we should reply to or our fellow bloggers, partners, family, therapists, counsellors etc. - not him/them.

What answer is to be expected? Something like,

I don't know why you're listening.
[Silly guy is asking me why he's listening to me!]
Maybe because you have no better recipe (?)
Maybe because you aren't clever enough to make it to Davos (?)
Maybe because you know that even the genius isn't immune to error due to bad luck.
Next question, please...

(Sorry about being nasty but I tried to put myself in his/her/their place.)
 

by Lily on Tue Jan 13th, 2009 at 11:43:11 AM EST
May this famous debate question offer an inspiration?

by das monde on Wed Jan 14th, 2009 at 12:39:53 AM EST
That's a really sad video. What Clinton says there is so right... But it was still so right after eight years of Clinton.

- Jake

640 kiloton should be enough for anybody

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jan 15th, 2009 at 05:23:56 PM EST
[ Parent ]


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