WEF Elites Rate ‘Cost-of-Living Crisis’ as World’s Top Risk in 2 years

A World Economic Forum (WEF) sign is seen at the Davos Congress Centre during the organization’s annual meeting in Davos, Switzerland, on May 23, 2022. (Fabrice Coffrini/AFP via Getty Images)

The “cost-of-living crisis” has replaced “extreme weather” to become the world’s most immediate and serious issue in the eyes of the globalist elites who are heading to Switzerland for the World Economic Forum’s (WEF) annual meeting.

On Jan. 11, about a week before its members descend upon the Swiss ski resort town of Davos, the WEF published a Global Risks Report, a survey that asked 1,200 “global risk experts, policy-makers and industry leaders” to identify the top risks the world is likely to face.

This year’s report, similar to the ones preceding it, paints a bleak outlook of the world. “The next decade will be characterized by environmental and societal crises, driven by underlying geopolitical and economic trends,” it says.

“We have seen a return of ‘older’ risks—inflation, cost-of-living crises, trade wars, capital outflows from emerging markets, widespread social unrest, geopolitical confrontation and the spectre of nuclear warfare.”

When asked to estimate the severity of the said global risks, most respondents ranked “cost-of-living crisis” as the biggest threat to the world over the next two years.

Meanwhile, “failure to mitigate climate change” is viewed as the most serious global risk over the next decade.

By comparison, “extreme weather” topped the list of short-term (2-year) risks in the 2022 Global Risks Report. Last year’s respondents also considered “failure to act on the climate crisis” and “climate change inaction” as the greatest risk in the medium term (2-5 years) and long term (10 years), respectively.

The WEF meeting will take place from Jan. 16–20. According to the U.S. embassy to Switzerland, the U.S. delegation will feature Special Presidential Envoy for Climate John Kerry, along with National Intelligence Director Avril Haines, FBI Director Christopher Wray, and Trade Representative Katherine Tai.

The theme of the 2023 gathering is “Cooperation in a Fragmented World.”

This year’s summit, as per usual, will be presided over by WEF founder and Executive Chairman Klaus Schwab, a promoter of the “Great Reset” idea that society should not return to the pre-COVID normalcy, but instead use the opportunity to fundamentally change the way they live and do business.

The WEF drew criticism in 2020 when Schwab said he believes that the pandemic is a “narrow window of opportunity to reflect, reimagine and reset our world.”

According to Schwab, humanity must “build entirely new foundations for our economic and social systems” in order to create a healthier, more sustainable, and prosperous world. He argued that this massive, long-overdue reset has become feasible because of the “changes we have already seen in response to COVID-19,” which have forced people around the world to radically change their ways of life and give up what was considered essential prior to the pandemic.