Davos droppings: Bank CEO tells WEF that inflation and energy shortages are ‘worth it’

by WorldTribune Staff, May 29, 2022

The CEO of Norway’s largest financial services group told the World Economic Forum (WEF) meeting in Davos, Switzerland that the runaway inflation and energy shortages that are devastating for families worldwide are “worth it.”

Kjerstin Braathen

Speaking about how the global transition to clean energy would affect small and medium-sized businesses, Kjerstin Braathen said:

“There will be some pain in the process. The pace that we need will open up for missteps. It will open up for shortages of energy, it will create inflationary pressures. And maybe we need to start talking about that, that that pain is actually worth it.”

Continuing, Braathen warned that, “if we don’t, there’s no business case; there’s no economy; there’s no welfare. But so far, I think we have been a little bit careful [in] actually talking about the pain in the short term that is likely to come from this very important change.”

The change spoken of is the “Great Reset,” the initiative of leftist elites, led by the WEF’s Klaus Schwab “to revamp all aspects of our societies and economies.”

Related: Klaus Schwab at World Economic Forum: ‘The future is built by us’, May 23, 2022

SovereignMan.com noted: “Do you hear that, fellow peasants? A material decline in your standard of living — freezing, starvation, the inability to travel — is ‘worth it’ to the wealthy elite who run the World Economic Forum. So shut up and eat your weeds and bugs.”

The elites at the WEF “want the world to freeze in the dark,” the Western Standard’s Cory Morgan wrote. “The WEF uses climate change as a potential disaster to justify extreme policies as well. Despite the world being in the midst of an energy crisis causing economic distress to billions of people, the WEF is solidly maintaining its stance on pushing for a transition from hydrocarbon fuel sources. In a speech to the gathering this year, Norwegian finance CEO Kjerstin Braathen says energy transition will create energy shortages and inflationary pressures, but this ‘pain’ is ‘worth it.’ ”

The WEF “and its adherents know that their policies will cause human misery but in their ideological bubbles, they feel it is a worthwhile price to pay. Of course, the elites themselves in Davos won’t feel any of that pain themselves. Indeed, many of them have actually prospered during the pandemic,” Morgan added.

The Daily Reckoning’s Bill Bonner noted that Braathen “didn’t mention it, but Norway is uncommonly rich, with a huge nationally owned wealth fund. Where did the money come from? Selling North Sea oil.”

“And now, they wash the black grease from their clothes and look forward to a post-fossil fuel world. They need not worry about a marginal increase in the price of gasoline…or the pain that may be inflicted by shortages or inflation. Those are problems for ‘the people’, not for them. The nomenklatura can afford to spend a little more for gasoline…and enjoy their hot summers in Aspen or on Cape Cod,” Bonner added.

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