World Economic Forum Is Totally Clueless About 2023’s ‘Top Risks’

(Photo by Jaafar ASHTIYEH / AFP) (Photo by JAAFAR ASHTIYEH/AFP via Getty Images)

Kay Smythe News and Commentary Writer
Font Size:

The World Economic Forum quietly updated its “Top Risks” for 2023 in late July, and it turns out we’re still doomed.

A group of people that leaders at WEF call their “Chief Risk Officers” (CROs) have decided there are four “macro risks” that will “dominate the second half of 2023.” Yay! (said no one, ever). CROs are a bunch of organizational leaders focused on trend-forecasting and mitigating risk, and they’re not quite the sharpest tools in the shed.

The first of these risks is economic, duh. WEF points to “stubbornly high” inflation and the rise in interest rates as the source of intense financial pressure, felt the world over. In Europe, interest rates are the highest they’ve been in more than a decade, making debt stress or defaults a significant concern. For some reason, the so-called CROs chatting with WEF think that, despite the global economy being in a state of total collapse, there isn’t much risk in terms of unemployment.

Stop laughing. They’re being serious. These CROs went on to state that pricing and supply disruptions won’t make the risk of unemployment higher, somehow? Many of the CROs identified “pricing and/or supply disruptions of critical resources, such as fuel, as highly likely to have a severe impact on their organizations over the coming months,” WEF noted.

They then added that in “most major economies, food prices are above historical averages and the El Niño weather phenomenon could disrupt crop production and lead to water shortages.” But this isn’t a key concern, just a footnote to WEF.

I don’t know who these CROs are, or what data they’re working with, but I assume it is being pulled directly from their butts. I’ve never read something so socially scientifically illogical in my life. If anyone thinks these factors won’t increase unemployment, they might actually be insane.

Up next on the threat list is “Armed Conflicts and/or use of Weapons.” There are more than 100 armed conflicts happening around the world right now, and the risk of intrastate violence in the form of riots and strikes is only making things worse.

If only our politicians and leaders would stop trying to pit us against each other…

Finally, artificial intelligence is going to create so many regulatory changes that we’re basically doomed. Like, yeah buddy, I could have told you that more than six months ago. In fact, I did!

“Too much focus on short-term risks, such as the cost-of-living crisis, can distract us from what should be a long-term, wide-angle approach. A too-narrow focus on the risks that are likely to dominate over the next six months or so can lead us into being easily distracted from dealing with the big risks that will determine the future,” Zurich Insurance Group Chief Risk Officer Peter Giger said in the report. (RELATED: Giant Solar Catastrophe Could Start By The End Of 2023)

Imagine being so out-of-touch with humanity that you think the cost-of-living crisis is a “short-term risk” and a “distraction.” It blows my mind that WEF still exists, and I still don’t understand what it’s even for.