In case you’ve been living underneath a rock, once a year the world’s “elites” fly on their private jets to Davos where they get together, ski, and sip champagne in front of CNBC cameras for the week-long World Economic Forum (WEF) put on by its insufferable founder Klaus Schwab.

While the richest of rich convene to “solve problems” at the posh Switzerland ski resort, we’ll continue reporting economic truth and reality from our HQ in Stamford, Connecticut. Earlier this morning on The Macro Show, Hedgeye CEO Keith McCullough weighed in on some of the insanity of Davos. 

“In Venezuela, they raised minimum wage by 40%. Forty! There’s no inflation in the real world,” he said sarcastically. “If you’re in a country with some sh*tty currency like Argentina or Venezuela, the world’s going sideways to downward dog in a hurry. The things people have to buy in their local shitty currencies when the dollar strengthens is a major political problem.” 

“Venezuela … Iran … Davos Man? These things are so far off each other’s radar in terms of communication.” 

Watch the full clip above. 

McCullough: As Elites Ski in Davos, Global Economy Goes Downhill - TMS Banner